<SEC-DOCUMENT>0001292814-15-002834.txt : 20151124
<SEC-HEADER>0001292814-15-002834.hdr.sgml : 20151124
<ACCEPTANCE-DATETIME>20151123183221
ACCESSION NUMBER:		0001292814-15-002834
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160331
FILED AS OF DATE:		20151124
DATE AS OF CHANGE:		20151123

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CRESUD INC
		CENTRAL INDEX KEY:			0001034957
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C1
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-29190
		FILM NUMBER:		151250769

	BUSINESS ADDRESS:	
		STREET 1:		MORENO 877
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1091AAQ
		BUSINESS PHONE:		00541143237449

	MAIL ADDRESS:	
		STREET 1:		MORENO 877
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1091AAQ
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>cresyfs1q16_6k.htm
<DESCRIPTION>CRESUD RESULTS 1Q16
<TEXT>

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<DIV style="TEXT-ALIGN: center; DISPLAY: block; LINE-HEIGHT: 1; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 18pt">SECURITIES AND EXCHANGE COMMISSION</FONT></B></FONT></FONT></DIV>

<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 12pt">Washington, D.C.&nbsp;&nbsp;20549</FONT></B></FONT></FONT></DIV>

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<FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">&nbsp;</FONT></FONT><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 18pt">FORM 6-K</FONT></B></FONT></FONT></DIV>

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<FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 10pt">&nbsp;</FONT></B></FONT><FONT><FONT face="times new roman"><B><FONT style="FONT-SIZE: 12pt">REPORT OF FOREIGN ISSUER</FONT></B></FONT></FONT></FONT></DIV>

<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 12pt">PURSUANT TO RULE 13a-16 OR 15b-16 OF</FONT></B></FONT></FONT></DIV>

<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 12pt">THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></FONT></FONT></DIV>

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<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 10pt">For the month of&nbsp;<FONT face="Times New Roman">Novem</FONT>ber 2015</FONT></B></FONT></FONT></DIV>

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<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">&nbsp;</FONT></FONT><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 18pt">Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria,</FONT></B></FONT></FONT></DIV>

<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT size=5><FONT face="times new roman"><B><FONT style="FONT-SIZE: 18pt">Financiera y Agropecuaria</FONT></B></FONT></FONT></FONT></DIV>

<DIV style="TEXT-ALIGN: center; LINE-HEIGHT: 1"><FONT style="DISPLAY: inline"><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">(Exact name of Registrant as specified in its charter)</FONT></FONT></FONT></DIV>

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<DIV style="TEXT-ALIGN: center; LINE-HEIGHT: 1"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 18pt">Cresud&nbsp;Inc.</FONT></B></FONT></FONT></DIV>

<DIV style="TEXT-ALIGN: center; LINE-HEIGHT: 1"><FONT style="DISPLAY: inline"><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">(Translation of registrant&#180;s name into English)</FONT></FONT></FONT></DIV>

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<FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">&nbsp;</FONT></FONT><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 10pt">Republic of Argentina</FONT></B></FONT></FONT></DIV>

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<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 10pt">&nbsp;(</FONT></B></FONT></FONT><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">Address of principal executive offices)</FONT></FONT></FONT></DIV>

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<FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">&nbsp;<FONT style="DISPLAY: inline">Form 20-F&nbsp;</FONT></FONT></FONT><FONT style="DISPLAY: inline"><FONT style="DISPLAY: inline"><FONT style="DISPLAY: inline"><FONT face=wingdings><FONT style="FONT-SIZE: 10pt">x</FONT></FONT></FONT></FONT><FONT id=TAB2><FONT color=black face="times new roman"><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">Form 40-F&nbsp;&nbsp;<FONT style="DISPLAY: inline" face=Wingdings>o</FONT></FONT></FONT></FONT></DIV>

<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&nbsp;</DIV>

<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</FONT></FONT></FONT></DIV>

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<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">Yes </FONT></FONT><FONT style="DISPLAY: inline"><FONT style="DISPLAY: inline"><FONT face=wingdings><FONT style="FONT-SIZE: 10pt">o</FONT></FONT></FONT></FONT><FONT id=TAB2><FONT color=black face="times new roman"><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">No x</FONT></FONT></FONT></DIV>

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<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 12pt"></FONT></B></FONT></FONT>&nbsp;</DIV>

<DIV style="TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 12pt">CRESUD S.A.C.I.F.&nbsp;y A.</FONT></B></FONT></FONT></DIV>

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<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: normal" align=center><FONT color=black face="times new roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt">REPORT ON FORM 6-K</FONT></B></FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: normal" align=center>&nbsp;</P>

<P style="BACKGROUND: white; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: normal" align=justify><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">Attached is an English translation of the Financial Statements for the three month periods ended on September 30, 2015 and on June 30, 2015 filed by the Company with the <EM>Comisi&#243;n Nacional de Valores </EM>and the <EM>Bolsa de Comercio de Buenos Aires</EM>:</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 18pt" color=gray face=Arial,sans-serif>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 18pt" color=gray face=Arial,sans-serif>Unaudited Condensed Interim Consolidated Financial Statements as of September 30, 2015 and June 30, 2015 and for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Legal Information</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Denomination:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></B></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Fiscal year N&#176;:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> &nbsp;83, beginning on July 1, 2015</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Legal address:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> Moreno 877, 23rd floor &#8211; Autonomous City of Buenos Aires, Argentina</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Company activity: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Real state, agricultural, commercial and financial activities</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Date of registration of the by-laws in the Public Registry of Commerce:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> February 19, 1937</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Date of registration of last amendment of the by-laws in the Public Registry of Commerce:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> February 25, 2013</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Expiration of Company charter: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>June 6, 2082</FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Common Stock subscribed, issued and paid up:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> 501,642,804 common shares.</FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Majority shareholder&#8217;s:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> Inversiones Financieras del Sur S.A. </FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Legal address:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> Road 8, km 17,500, Zonam&#233;rica Building 1, store 106, Montevideo, Uruguay</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Parent company Activity:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> Investment</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Capital stock:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> 187,651,850 common shares</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 18pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>Type of stock</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 2.25pt double; HEIGHT: 14.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 6pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 6pt" vAlign=bottom width="53%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>CAPITAL STATUS</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>Authorized to be offered publicly (Shares)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>Subscribed, Issued and Paid-in (Ps.)</FONT></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 6pt; BORDER-LEFT: windowtext 2.25pt double; PADDING-RIGHT: 6pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>Ordinary certified shares of Ps. 1 face value and 1 vote each</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 6pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 6pt" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>501,642,804</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 2.25pt double; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 6pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 6pt" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>501,642,804</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 12pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT style="DISPLAY: none" face=arial,sans-serif><FONT lang=ES-AR style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></FONT><FONT face=arial,sans-serif><FONT lang=ES-AR style="FONT-SIZE: 7pt" face=arial,sans-serif>1</FONT></FONT><FONT face=arial,sans-serif><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader5"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Consolidated Statements of Financial Position</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>as of September 30, 2015 and June 30, 2015</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>06.30.15</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>ASSETS</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,435,699</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,474,959</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,826,815</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,977,195</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>123,624</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>129,654</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>171,530</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>175,763</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>416,645</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>458,879</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8, 9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,992,144</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,394,288</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred income tax assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>687,918</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>652,186</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax credit </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>160,605</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>160,457</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Restricted assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,621</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,301</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade and other receivables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>419,617</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>426,777</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment in financial assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>505,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>622,845</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>323,637</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>207,602</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,067,271</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,684,906</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trading properties </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,300</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Biological assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>113,809</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>119,998</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Inventories </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>467,505</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>511,350</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Restricted assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>119,238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>607,021</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax credit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>27,632</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,749</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,850,872</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,772,373</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,006,926</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>504,102</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>46,312</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>29,554</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,033,415</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>633,693</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,669,797</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,212,140</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>TOTAL ASSETS</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,737,068</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,897,046</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.25pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>SHAREHOLDERS&#8217; EQUITY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.25pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.25pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.25pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Capital and reserves attributable to equity holders of the parent</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share capital </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>495,015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>494,777</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Treasury stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,628</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,866</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Inflation adjustment of share capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>64,561</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>64,530</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Inflation adjustment of treasury stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>864</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>895</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share premium</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>659,464</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>659,464</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additional Paid-in Capital from Treasury Stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,952</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,678</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cost of treasury stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(32,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(32,198)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Changes in non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>48,668</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>53,806</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cumulative translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>350,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>463,297</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>83,719</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>81,988</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reserve for the acquisition of securities issued by the company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,198</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -63pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,198</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Retained earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(173,928)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>117,559</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Equity attributable to equity holders of the parent</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,550,094</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,955,860</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,258,916</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,558,906</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>TOTAL SHAREHOLDERS&#8217; EQUITY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,809,010</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -79.7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,514,766</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 21.3pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>&nbsp; The accompanying notes are an integral part of these Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Director </FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acting as President</FONT></FONT><FONT style="BACKGROUND: yellow" face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>2</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Consolidated Statements of Financial Position</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>as of September 30, 2015 and June 30, 2015 </FONT></B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 10.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 10.25pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>06.30.15</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>LIABILITIES</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.35pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 7.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>269,791</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>264,054</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax liabilities</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>59,896</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,626,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,832,973</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred income tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>195,312</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>150,691</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>264,098</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>268,862</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,374</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,539</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>410,483</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>386,948</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,831,660</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -75.95pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,909,067</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade and other payables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,292,834</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,306,835</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>78,853</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>142,361</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>160,733</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>230,400</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,247,408</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,476,886</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>261,152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>261,760</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,418</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -41.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>54,971</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,096,398</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -149.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,473,213</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>TOTAL LIABILITIES</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,928,058</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -58.35pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,382,280</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>TOTAL SHAREHOLDERS&#8217; EQUITY AND LIABILITIES</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,737,068</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -107.15pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,897,046</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=black face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 21.3pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>&nbsp; The accompanying notes are an integral part of these Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=black face=Calibri,sans-serif></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Director </FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acting as President</FONT></FONT><FONT style="BACKGROUND: yellow" face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>3</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Consolidated Statements of Income </FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods beginning on July 1, 2015 and 2014 and ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,624,361</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,523,484</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>29</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,194,591)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,243,223)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>196,625</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>282,227</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(8,933)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(22,021)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>617,462</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>540,467</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment properties (Note 4) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>383,585</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>316,767</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(194,458)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(139,351)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(146,516)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(122,554)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,709</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>964</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Profit from operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>670,782</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>596,293</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of loss of associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8, 9</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(496,669)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(102,728)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Profit from operations before financing and taxation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>174,113</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>493,565</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>33</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>91,441</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,418</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>33</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(516,535)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(497,685)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other financial results</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>33</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(21,772)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>101,449</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Financial results, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>33</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(446,866)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(340,818)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit before income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(272,753)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>152,747</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(89,007)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(131,082)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit for the period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(361,760)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,665</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Attributable to:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Equity holders of the parent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(292,151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(122,005)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(69,609)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>143,670</FONT></P></TD></TR>

<TR style="HEIGHT: 9.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 20.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss per share attributable to equity holders of the parent during the period:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Basic</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(0.59)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(0.25)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="56%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Diluted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i) (0.59)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i) (0.25)</FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(i)</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Due to the loss for the period, there is no diluted effect on this result.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 7.1pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>&nbsp; The accompanying notes are an integral part of these Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Director </FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acting as President</FONT></FONT><FONT style="BACKGROUND: yellow" face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>4</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Consolidated Statements of Comprehensive Income </FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods beginning on July 1, 2015 and 2014 and ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="62%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit for the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(361,760)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,665</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other comprehensive income:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Items that may be reclassified subsequently to profit or loss:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(361,301)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(84,292)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment from associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>41,016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,334</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other comprehensive loss for the period (i)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(320,285)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(53,958)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total comprehensive loss for the period</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(682,045)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(32,293)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Attributable to:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Equity holders of the parent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(405,297)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(130,380)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(276,748)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>98,087</FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -43.1pt; MARGIN: 0in 2.85pt 0pt 57.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Components of other comprehensive income have no impact on income tax.</FONT></P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -57.3pt; MARGIN: 0in 0in 0pt 21.3pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: 14.2pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>The accompanying notes are an integral part of these Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Director </FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acting as President</FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>5</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Consolidated Statements of Changes in Shareholders&#8217; Equity</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 18.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Share Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Treasury Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Inflation adjustment </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>of Share </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Inflation adjustment </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>of Treasury </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Share </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>premium</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Additional Paid-in Capital from Treasury Stock</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Cost of </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Treasury </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Changes in </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>non-controlling interests</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Cumulative translation adjustment</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Equity-settled </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>compensation</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Reserve for the acquisition of securities issued by the company</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Retained earnings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Non-controlling interest</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Total </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.1in">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Balances as of June 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>494,777</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>6,866</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>64,530</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>895</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>659,464</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>12,678</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>1,207,012</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>53,806</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>463,297</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>81,988</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>32,198</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>117,559</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>1,955,860</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>2,558,906</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>4,514,766</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Loss for the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(292,151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(292,151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(69,609)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(361,760)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Other comprehensive loss for the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(113,146)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(113,146)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(207,139)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(320,285)</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Total comprehensive loss for the period</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(113,146)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(292,151)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(405,297)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(276,748)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(682,045)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Cash dividends </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(4,513)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(4,513)</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Acquisition of subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(3,033)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(3,033)</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Capital contributions from non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(95)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(95)</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>4,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>4,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>1,527</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>6,196</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Equity incentive plan granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(238)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>31</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(31)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>2,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>2,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(2,938)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>664</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Changes in non- controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(5,138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(5,138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(17,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(22,266)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Balances as of September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>495,015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>6,628</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>64,561</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>864</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>659,464</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>14,952</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>1,209,286</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>48,668</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>350,151</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>83,719</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>32,198</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>(173,928)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>1,550,094</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>2,258,916</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=black face=arial,sans-serif>3,809,010</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>The accompanying notes are an integral part of these Consolidated Financial Statements.</FONT></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Director </FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acting as President</FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>6</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Consolidated Statements of Changes in Shareholders&#8217; Equity</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0pt; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 19.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Share Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Treasury Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Inflation adjustment </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>of Share Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Inflation adjustment </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>of Treasury Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Share </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>premium</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Cost of </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Treasury </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Share </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>warrants</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Changes in </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>non-controlling interests</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Cumulative translation adjustment</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Equity-settled </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>compensation</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Legal</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>reserve</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Reserve for new developments</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Special </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>reserve </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Reserve for the acquisition of securities issued by the company</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Retained earnings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Non-controlling interest</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Total </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 7.6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Balances as of June 30, 2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>490,997</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>10,566</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>64,047</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>1,378</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>773,079</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(54,876)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>106,264</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>1,391,455</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(15,429)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>633,607</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>70,028</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>81,616</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>17,065</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>633,940</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>200,000</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(1,066,428)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>1,945,854</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>2,488,932</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>4,434,786</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit for the period </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(122,005)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(122,005)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>143,670</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>21,665</FONT></P></TD></TR>

<TR style="HEIGHT: 8.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Other comprehensive loss for the period </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,375)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,375)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(45,583)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(53,958)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Total comprehensive loss for the period </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,375)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(122,005)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(130,380)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>98,087</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(32,293)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>12,069</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>12,069</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>3,660</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>15,729</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Acquisition of Treasury stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(3,068)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>3,068</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(400)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(32,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(32,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(32,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(32,198)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Changes in non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>29,035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>29,035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>7,578</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>36,613</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Cash dividends </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(772)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(772)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Capital contributions from non-controlling interest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>275</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>275</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Capital reduction </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(3,784)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(3,784)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Balances as of September 30, 2014 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>487,929</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>13,634</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>63,647</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>1,778</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>773,079</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(87,074)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>106,264</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>1,359,257</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>13,606</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>625,232</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>82,097</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>81,616</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>17,065</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>633,940</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>200,000</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>(1,188,433)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>1,824,380</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>2,593,976</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 5.5pt" lang=EN-US color=#000000 face=arial,sans-serif>4,418,356</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>The accompanying notes are an integral part of these Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Director </FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acting as President</FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>7</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Consolidated Statements of Cash Flows</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Note</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Operating activities:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash generated from operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>412,260</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>381,238</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Income tax paid</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(67,043)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(54,448)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net cash generated from operating activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>345,217</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>326,790</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Investing activities:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acquisition of associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(268,975)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Capital contributions to associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(34,340)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(52,479)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acquisition of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(46,926)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(62,414)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of associates and joint ventures<FONT style="FONT-SIZE: 7pt" face=Arial>a</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>19,139</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>388,406</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,507,067</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acquisition of property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(18,971)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(67,404)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of property, plant and equipment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,859</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>92</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Payments of purchase of farmlands</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(77,830)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of farmlands</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>14,470</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>23,693</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acquisition of intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(1,172)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(1,889)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acquisition of Investment in financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(1,315,705)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(1,423,566)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from disposals of Investment in financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,056,378</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,471,551</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Loans granted to associates and joint ventures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>49</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Loans repayments received from associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,052</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,694</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Interest received from financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>2,286</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Dividends received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>462</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>3,081</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net cash (used in) / generated from investing activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(32,317)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,151,925</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Financing activities:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Repurchase of non-convertible notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(120,803)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Purchase of treasury stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from issuance of non-convertible notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>793,018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>455,038</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Payment of non-convertible notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(154,419)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(538,081)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>537,144</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>442,551</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Payment of trust debt titles</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(9,733)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Payment of seller financing of shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(105,861)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Repayments of borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(546,785)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(351,733)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from borrowings from associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>13,009</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cancellation of liabilities held for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(603,021)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Borrowings from associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>600</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Payment of seller financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(973)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(690)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acquisition of non-controlling interest in subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(24,568)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(1,094)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Dividend paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(48,246)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(14,640)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Payments of derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(26,587)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(63,514)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Proceeds from derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>131</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Capital reduction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(3,784)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Sale of equity in subsidiaries to non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>55,314</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Capital contributions of non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>275</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Interest paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(285,286)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(260,343)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net cash generated from / (used in) financing activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>123,095</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(1,018,374)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net increase in cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>435,995</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>460,341</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents at beginning of period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>633,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,002,987</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="57%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Foreign exchange (loss) gain on cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(36,273)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>18,424</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents at end of period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,033,415</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,481,752</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 6pt; MARGIN: 0in 0in 0pt 7.1pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>&nbsp; The accompanying notes are an integral part of these Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Director </FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Acting as President</FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>8</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>General information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 7.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.1</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Group&#8217;s business and general information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria (&#8220;Cresud&#8221; or the &#8220;Company&#8221;) was founded in 1936 as a subsidiary of Credit Foncier, a Belgian company primarily engaged in providing rural and urban loans in Argentina and administering real estate holdings foreclosed by Credit Foncier. Credit Foncier was liquidated in 1959, and as part of such liquidation, the shares of Cresud were distributed to Credit Foncier&#8217;s shareholders. From the 1960s through the end of the 1970s, the business of Cresud shifted exclusively to agricultural activities.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In 2002, Cresud acquired a 19.85% interest in IRSA Inversiones y Representaciones Sociedad An&#243;nima (&#8220;IRSA&#8221;), a real estate company related to certain shareholders of Cresud. In 2009, Cresud increased its ownership percentage in IRSA to 55.64% and IRSA became Cresud&#8217;s principal subsidiary.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cresud and its subsidiaries are collectively referred to hereinafter as the Group. See Note 2.3 to the Consolidated Financial Statements as of June 30, 2015 and 2014 for a description of the Group&#8217;s companies.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As of September 30, 2015, the Group operates in two major lines of business: (i) Agricultural business, (ii) Urban Properties and Investments business. See Note 6 to the Unaudited Condensed Interim Consolidated Financial Statements as of June 30, 2015 and 2014 for a description of the Group&#8217;s segments.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Group&#8217;s Agricultural business operations are comprised of crop production, cattle feeding, raising and fattening, milk production, sugarcane production and brokerage activities. The Group currently has agricultural operations and investments in Argentina, Brazil, Uruguay, Paraguay and Bolivia.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Urban Properties and Investments business operations are conducted primarily through IRSA and IRSA&#8217;s principal subsidiary, IRSA Propiedades Comerciales S.A. (formerly Alto Palermo S.A. (&#8220;APSA&#8221;) which changed its legal name to &#8220;IRSA Propiedades Comerciales&#8221;). Through IRSA Propiedades Comerciales and IRSA, the Group owns, manages and develops shopping centers across Argentina, a portfolio of office and other rental properties in the Autonomous City of Buenos Aires, capital of Argentina, and since 2009 it entered into the US real estate market, mainly through the acquisition of non-controlling interests in office buildings and hotels. Through IRSA or IRSA Propiedades Comerciales, the Group also develops residential properties for sale. The Group, through IRSA, is also involved in the operation of branded hotels. The Group uses the term &#8220;real estate&#8221; indistinctively in these Condensed Interim Consolidated Financial Statements to denote investment, development and/or trading properties activities. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=ES color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>General information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>During fiscal year ended June 30, 2014, the Group made an investment in the Israeli market, through Dolphin Fund Ltd. (&#8220;DFL&#8221;) and the Dolphin Netherlands B.V. (&#8220;DN B.V.&#8221;, and together with DFL &#8220;Dolphin&#8221;), in IDB Development Corporation Ltd. ("IDBD") an Israeli company, with an initial interest of 26.65%. During fiscal year ended June 30, 2015, the Group continued investing in IDBD, increasing its indirect interest as of June 30, 2015, to 49%. During the three-month-period ended on September 30, 2015 the Group did not invest further in the company. IDBD is one of the Israeli biggest and most diversified conglomerates, which is involved, through its subsidiaries, in several markets and industry, including real estate, retail, agribusiness, insurance, telecommunications, etc.; controlling or holding interest equity in companies as: Clal Insurance (Insurance Company), Cellcom (Mobile phone services), Adama (Agrochemicals), Super-Sol (supermarket), PBC (Real Estate), among others. IDBD went public in Tel Aviv Stock Exchange ("TASE") since May, 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The activities of the Group&#8217;s segment &#8220;Financial operations and others&#8221; is carried out mainly through Banco Hipotecario S.A. (&#8220;BHSA&#8221;), where it has a 29.99% interest (without considering treasury shares). BHSA is a commercial bank offering a wide variety of banking activities and related financial services to individuals, small, medium-sized and large corporations, including the provision of mortgaged loans. BHSA&#8217;s shares are listed on the Buenos Aires Stock Exchange. Additionally, the Group has a 43.15% interest in Tarshop S.A (&#8220;Tarshop&#8221;) whose main business comprises credit cards activities and the provision of loans.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cresud&#8217;s and IRSA Propiedades Comerciales&#8217;s shares are listed and traded on both the Buenos Aires Stock Exchange (&#8220;BCBA&#8221;) and the National Association of Securities Dealers Automated Quotation (&#8220;NASDAQ&#8221;). IRSA&#180;s shares are listed and traded on both the BCBA and the New York Stock Exchange (&#8220;NYSE&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cresud is the ultimate parent company and is a corporation incorporated and domiciled in the Republic of Argentina. The address of its registered office is Moreno 877, 23rd Floor, Buenos Aires, Argentina.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>These consolidated financial statements have been approved for issue by the Board of Directors on November 11, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of preparation of the Unaudited Condensed Interim Consolidated Financial Statements</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basis of preparation</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The present Unaudited Condensed Interim Consolidated Financial Statements for the three-month periods ended September 30, 2015 and 2014 (the &#8220;Unaudited Condensed Interim Consolidated Financial Statements&#8221;) have been prepared in accordance with IAS 34 &#8220;Interim Financial Reporting&#8221;.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of preparation of the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>These Unaudited Condensed Interim Consolidated Financial Statements should be read together with the Annual Consolidated Financial Statements of the Company as of June 30, 2015. These Unaudited Condensed Interim Consolidated Financial Statements are expressed in thousands of Argentine Pesos.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Condensed Interim Consolidated Financial Statements corresponding to the three-month periods ended as of September 30, 2015 and 2014 have not been audited. The Company&#180;s management believes they include all necessary adjustments to fairly present the results of each period. Results for the three-month periods ended September 30, 2015 and 2014 do not necessarily reflect proportionally the Company&#8217;s results for the complete fiscal years.</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.2</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Accounting Policies</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.75in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The accounting policies applied in the preparation of these Unaudited Condensed Interim Consolidated Financial Statements are consistent with those applied in the preparation of the information under IFRS as of June 30, 2015, except for those mentioned below which were applied in these financial statements. Most significant accounting policies are described in note 2 included in the Consolidated Financial Statements as of June 30, 2015 and 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.3</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Use of estimates</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.75in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The preparation of financial statements at a certain date requires the Management to make estimations and evaluations affecting the amount of assets and liabilities recorded and contingent assets and liabilities disclosed at such date, as well as income and expenses recorded during the period. Actual results might differ from the estimates and evaluations made at the date of preparation of these Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In the preparation of these Unaudited Condensed Interim Consolidated Financial Statements, the significant judgments made by Management in applying the Group&#8217;s accounting policies and the main sources of uncertainty were the same applied by the Group in the preparation of the Annual Consolidated Financial Statements as of June 30, 2015, save for changes in accrued income tax, provision for legal claims, allowance for doubtful accounts, provision for director's fees and for percentage rent.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Additionally, to estimate the market value of its investment in IDBD, in this&nbsp; period the Group chose to stop considering the listed price (Level 1 valuation) and to adopt a valuation model based on unobservable variables (Level 3 valuation), as a result of the circumstances described in Note 16.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=ES color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>11</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of preparation of the Unaudited Condensed Interim Consolidated Financial Statements</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.4</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Comparative information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Amounts as of September 30, 2014 and June 30, 2015, which are disclosed for comparative purposes have been taken from the Consolidated Financial Statements as of such dates. The financial statements originally issued have been subject to certain reclassifications required in order to present these figures comparatively with this period.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>During the three-month periods ended September 30, 2015 and 2014, the Real Brasile&#241;o (RS) has depreciated against the Argentine Peso and other currencies by around 19.1% and 6.4%, respectively, which affects the comparability of the figures reported in the current financial statements given its negative impact on the financial position and results of operations of the Group, due mainly to the foreign exchange rate exposure to net assets and liabilities denominated in foreign currency and investments in joint ventures with a functional currency different from the Real.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Seasonal effects on operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 56.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The operations of the Group&#8217;s agricultural business are also subject to seasonal effects. The harvests and sale of grains (corn, soybean and sunflower) generally take place between January and September every year. Wheat is generally harvested between November and February. In Bolivia, weather conditions make it possible to have two soybeans, corn and barley seasons and, therefore, these crops are harvested in April and October, whereas wheat and sunflower are harvested in August and September, respectively. Other segments of the agricultural business, such as beef cattle and milk production tend to be more stable. However, beef cattle and milk production is generally larger during the second quarter, when conditions are more favorable. In case of sugar cane, harvest and sale take place between May and November of each year. As a result, there may be material fluctuations in the agricultural business results across quarters.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The operations of the Group&#8217;s shopping centers are also subject to seasonal effects, which affect the level of sales recorded by lessees. During summer time (January and February), the lessees of shopping centers experience the lowest sales levels in comparison with the winter holidays (July) and year-end celebrations (December) when they tend to record peaks of sales. Apparel stores generally change their collections during the spring and the fall, which impacts positively on shopping mall sales. Sale discounts at the end of each season also impact the business. As a consequence, a higher level of revenues is generally expected in the second half of the year rather than the first in shopping center operations.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Acquisitions and disposals</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0.5in"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>For the three-month period ended as of September 30, 2015</FONT></B></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Sale of investment properties</FONT></U></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On July 10, 2015, the Group through IRSA signed the transfer deed for the sale of the 16th floor of the Maip&#250; 1300 Building. The total price of the transaction was US$ 1.5 million. Such transaction generated a gain before tax of approximately Ps. 12 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On July 24, 2015, the Group through IRSA signed the transfer deed for the sale of the 4th floor of the Maip&#250; 1300 Building. The total price of the transaction was Ps. 21.7 million. Such transaction generated a gain before tax of approximately Ps. 19.7 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On July 31, 2015, the Group through IRSA signed the transfer deed for the sale of the 18th floor of the Maip&#250; 1300 Building. The total price of the transaction was US$ 1.6 million. Such transaction generated a gain before tax of approximately Ps. 12.6 million.</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On August 24, 2015, the Group through IRSA signed the transfer deed for the sale of the 3rd floor of the Maip&#250; 1300 Building. The total price of the transaction was US$ 1.5 million. Such transaction generated a gain before tax of approximately Ps. 11.6 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On September 3, 2015, the Group, through IRSA sold the lands of &#8220;Isla Sirgadero&#8221;, located in Santa Fe province. The total price of the transaction was US$ 4.0 million. Such transaction generated a gain before tax of approximately Ps. 31.9 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On September 10, 2015, the Group through IRSA CP, transferred 5,963 square meters corresponding to seven offices floors, 56 parking units and 3 housing units of Intercontinental Plaza Building. The transaction price was Ps. 324.5 million, which has already been fully paid. Gross profit of this operation amounted to Ps. 295.8 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>All sales of the period led to a combined profit for the Group of Ps. 383.6 million, disclosed within the line &#8220;Gain from disposal of investment properties&#8221; in the Statement of Income.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Acquisitions and disposals </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

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<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Investment in IDBD</FONT></U></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; TEXT-DECORATION: none" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On May 7, 2014, a transaction was closed whereby the Group, acting indirectly through Dolphin, acquired, jointly with C.A.A. Extra Holdings Limited, a non-related company incorporated under the laws of the State of Israel, controlled by Mordechay Ben Mosh&#233; (hereinafter, &#8220;ETH&#8221;), an aggregate number of 106.6 million common shares in IDBD representing 53.30% of its stock capital, under the scope of the debt restructuring of IDBD&#8217;s holding company, IDB Holdings Corporation Ltd. (&#8220;IDBH&#8221;), with its creditors (the &#8220;Arrangement&#8221;). Under the terms of the agreement entered into between Dolphin and E.T.H.M.B.M. Extra Holdings Ltd., a company controlled by Mordechay Ben Mosh&#233;, to which Dolphin and ETH agreed to (the &#8220;Shareholders' Agreement&#8221;), Dolphin, jointly with other third party investors acquired a 50% interest in this investment, while ETH acquired the remaining 50%. The initial investment amount was NIS 950 million, equivalent to approximately US$ 272 million at the exchange rate prevailing on that date. During fiscal year 2015 Dolphin continued investing in IDBD and as of June 30, 2015, the IRSA's indirect equity interest in IDBD amounted to approximately 49%.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On August 27, 2015, DIC published a rights offering memorandum according to the Proposal to IDBD and DIC (see on this regard note 9 &#8220;Interest in associates&#8221; accompanying these financial statements) and on September 6, 2015 issued right for every 1000 shares of DIC, which would be exercised automatically and cost-free on the same day for 224 Series 3 warrants, 204 Series 4 warrants, 204 Series 5 warrants and 204 Series 6 warrants, each. Each DIC warrant is convertible to 1 share of DIC and has the following characteristics:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 42.55pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Series 3 warrants are exercisable at NIS 6.54 and mature on December 21, 2015;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 42.55pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Series 4 warrants are exercisable at NIS 7.183 and mature on December 21, 2016;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 42.55pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Series 5 warrants mature on December 21, 2017. The exercise price is NIS 7.183 until December 20, 2016, and NIS 7.836 thereafter.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 42.55pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Series 6 warrants mature on December 21, 2018. The exercise price is NIS 7.183 until December 20, 2016, and NIS 8.489 thereafter.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Pursuant to the above said, on September 6, 2015 Dolphin received 91,163 warrants Series 3 and 83,023 warrants Series 4, 5 and 6 from DIC.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>As a result of the transactions described above, as of September 30, 2015, Dolphin held an aggregate number of 324,445,664 shares, 15,998,787 Series 3 warrants, 24,897,859 Series 4 warrants, 109,342,966 Series 5 warrants and 97,833,180 Series 6 warrants, accounting for a 49.0% share interest in IDBD. Furthermore, as of September 30, 2015, Dolphin owned 406,978 shares of DIC, 91,163 warrants Series 3 and 83,023 warrants Series 4, 5 and 6 of DIC, representing a direct equity interest of 0.48%.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Acquisitions and disposals </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>As of September 30, 2015, IDBD&#8217;s Board of Directors consisted of nine members, three of which were appointed by Dolphin as regular directors: Eduardo Sergio Elsztain (President), Roni Bar-On (on July 7 Roni Bar- On replaced Alejandro Gustavo Elsztain) and Sa&#250;l Zang.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>During February and March 2015 Dolphin and ETH initiate an exchange of letters mainly in relation to claims from ETH in connection with the Rights Offering and ETH&#8217;s claim demanding a pro rata acquisition of the shares in IDBD owned by Dolphin and subscribed for under the Rights Offering and all the shares acquired thereafter by IFISA asserting in the latter case the rights under the Shareholder's Agreement (</FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>first refusal</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>). </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Based on the foregoing and in accordance with the provisions of the Shareholders&#8217; Agreement with respect to dispute resolution, on April 30, 2015 (the &#8220;Preliminary Hearing&#8221;) arbitration proceedings were initiated in English language, in Tel Aviv, and the Israeli law applies thereto.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The arbitration proceedings are intended to settle the issues referred to above, and application and interpretation of certain clauses of the Shareholders' Agreement. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>In addition, during such Preliminary Hearing, the parties agreed on the rules and procedures that would govern the conduct of the arbitration proceedings and a schedule for such purposes. Appointment of an arbitrator was approved and, as a result, any applicable statutory terms began running thereafter.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On May 28, 2015, before the filing of the arbitration claim, ETH made a preliminary petition to the arbiter that triggered application of the Buy Me Buy You (&#8220;BMBY&#8221;) clause, which establishes that each party to the Shareholders&#8217; Agreement may offer to the counterparty to acquire (or sell, as the case may be) the shares it holds in IDBD at a fixed price; and within 14 days from delivery of the BMBY notice (the &#8220;Notice&#8221;) recipient should let it know whether it desires to sell or acquire the other party&#8217;s shares pursuant to the terms of the Notice, in accordance with the provisions of the Shareholders&#8217; Agreement. In such petition, ETH further added that the purchaser thereunder would be required to assume all obligations of seller under the Arrangement.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>In addition, on June 10 and 11, 2015, Dolphin gave notice to ETH of its intention to buy all the shares in IDBD held by ETH, asserted its defenses and its interpretation about application and construction of the BMBY, establishing that ETH&#8217;s interpretation of such mechanism was erroneous. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Acquisitions and disposals </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>As a result, the parties pursued arbitration to settle their disputes and in respect of the correct interpretation of the BMBY clause, in order to determine, first, who is the purchaser under the BMBY clause, and whether such party will be under the obligation to assume all the obligations of seller under the Arrangement.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>For such purposes, the arbiter decided to divide the arbitration proceedings into two phases: the first one to deal with the disputes related to application and interpretation of the mechanism under the BMBY clause and the second one in relation to the parties&#8217; additional petitions or claims.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Moreover, on June 28 and 30, 2015 ETH filed a motion with the arbiter requesting an injunction preventing changes in IDBD&#8217;s current Board of Director&#8217;s composition at IDBD&#8217;s annual shareholders&#8217; meeting held on July 7, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On July 6, 2015, the arbiter granted such injunction as requested by ETH, for which reason Dolphin appointed only 3 directors for the next meeting and could appoint such number of directors until the arbiter issues a final decision about who is the purchaser under the BMBY process. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On September 24, 2015 the arbitrator issued its award, which provided that: (i) Dolphin and IFISA are entitled to act as buyers in the BMBY process, and ETH should sell IDBD shares held by it (92,665,925 shares) at a NIS price of 1.64 per share; (ii) the buyer must fulfill all of the commitments included in the seller&#8217;s Arrangement, including the commitment to carry out Tender Offers and the obligation to engage in capital increases; (iii) the buyer must pledge in favor of the Arrangement Trustees the shares that seller had pledged to them; (iii) the parties will have 16 days to complete the BMBY process from the time of notice of this award.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>As Dolphin is a subsidiary that qualifies as a VCO in accordance with the IAS 28 exemption referred to in Note 2.3 (d), of the Consolidated Financial Statements for the fiscal year ended June 30, 2015, the Company has recorded its interest in IDBD at fair value with changes in the income statement.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>16</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Acquisitions and disposals </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Transactions with non-controlling interests</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt; BACKGROUND: white"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>IRSA Commercial Properties</FONT></I></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>During the three-month period ended September 30, 2015, the Group, through IRSA, acquired an additional 0.10% interest in IRSA </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Commercial Properties</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> for a total amount of Ps. 3.1 million. This resulted in a decrease in non-controlling interests of Ps. 0.9 million and a decrease in equity attributable to the owners of the parent of Ps. 9.5 million. As of September 30, 2015, IRSA's equity interest in IRSA Propiedades Comerciales amounts to 95.90%. The effect of changes in the ownership interest of IRSA Propiedades Comerciales on the equity attributable to owners of the Group is summarized as follows:</FONT></P>

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   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. (million)</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Carrying amount of group&#8217;s interest acquired of</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>0.9</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Consideration paid for non-controlling interests</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(9.5)</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reserve recorded in within parent&#8217;s equity</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(i) (8.6)</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 35.45pt; BACKGROUND: white"><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 71.45pt; BACKGROUND: white"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>The reserve includes Ps. 3.0 million for non-controlling interest.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=red face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -42.55pt; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>5.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial risk management </FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>5.1.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Financial risk</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The group&#180;s diverse activities are exposed to a variety of financial risk: market risk (including foreign currency risk, interest rate risk and price risk) credit risk, liquidity risk and capital risk.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The Unaudited Condensed Interim Consolidated Financial Statements do not include all the information and disclosures of the risk management, so they should be read together with the annual consolidated financial statements as of June 30, 2015. There have been no changes in the risk management or risk management policies applied by the Group since the fiscal year-end. </FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>5.2.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Fair value estimates</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 10pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Since June 30, 2015, to the balance sheet date, there have been no significant changes in business or economic circumstances affecting the fair value of the Group's assets or liabilities (either measured at fair value or amortized cost). Neither have been certain transfers between the several tiers used in estimating the fair value of the Group&#8217;s financial instruments, which are describe in Note 16.</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>17</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information</FONT></B></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Group&#8217;s Executive Board periodically reviews the results and certain asset categories corresponding to these segments The valuation criteria used in preparing this information are consistent with IFRS standards used for the preparation of the consolidated financial statements, except for the investments in joint ventures: Cresca S.A., Cyrsa S.A., Nuevo Puerto Santa Fe S.A. Puerto Retiro S.A., Baicom Networks S.A. and Quality Invest S.A., which are reported to the Group&#8217;s Executive Board, applying proportional consolidation method. Under this method the income/loss generated and assets, are reported in the income statement line-by-line rather than in a single item as required by IFRS. Management believes that the proportional consolidation method provides more useful information to understand the business return. Moreover, operating results of Entertainment Holding S.A. (&#8220;EHSA&#8221;) joint venture is accounted for under the equity method. Management believes that, in this case, this method provides more adequate information for this type of investment, given its low materiality and considering it is a company without direct trade operations, where the main asset consists of an indirect interest of 25% of la Rural S.A..</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following asset categories are reviewed by the Group's Executive Board: investment properties, property, plant and equipment, trading properties, goodwill, rights to receive future units through barter agreements, assets held for sale, biological assets, inventories, investments in associates and investment in EHSA joint venture. The aggregate of these assets, classified by business segment, are disclosed as &#8220;segment assets&#8221;. The measurement principles for the segment assets are based on the IFRS principles adopted in the preparation of the consolidated financial statements, except for the Group&#8217;s share of assets of the joint ventures: Cresca S.A., Cyrsa S.A., Nuevo Puerto Santa Fe S.A., Puerto Retiro S.A., Baicom Networks S.A. and Quality Invest S.A., which are all reported to the Executive Board under the proportionate, consolidation method. Under this method, each of the segment assets reported includes the proportionate share of the Group in the same operating assets of these joint ventures. As an example, the investment properties amount reported to the Executive Board includes (i) the investment property balance as per the statement of financial position plus (ii) the Group&#8217;s share of the investment properties of these joint ventures. Under IFRS 11, the investment properties of these joint ventures are included together with all other of the joint ventures&#8217; net assets in the single line item titled &#8220;Investments in associates and joint ventures&#8221; in the statement of financial position. Assets are allocated to each segment based on the operations and/or their physical location. Assets and services exchanged between segments are calculated on the basis of market prices. Intercompany transactions between segments, if any, are eliminated.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In the last quarter of the fiscal year ended June 30, 2015, the Group has changed the presentation of the income statement which is reviewed by the CODM for purposes of assigning resources and assessing performance for the fiscal year for a better alignment with the current business vision and the metrics used to such end.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif> These amendments affected the shopping centers and office segments. The information examined by the CODM does not include the amounts pertaining to income from building administration expenses and collective promotion funds (&#8220;FPC&#8221;, as per its Spanish acronym) from the income statement, and so does it exclude total recovered costs, whether by way of building administration expenses or other concepts included under financial income (for example default interest and other concepts) and not analyzed to assess the operating performance of the segment. The CODM examines the net amount from both concepts (total surplus or deficit between building administration expenses and collective promotion funds and recoverable expenses). These costs and income are presented now for reconciliation of all segments and their respective consolidating operating income. The amounts corresponding to prior fiscal years have been retroactively adjusted to reflect these changes in segment information.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In addition, in the last quarter of the fiscal year ended June 30, 2015, the Group has modified how it presents the gain/loss on the sale of investment property in segment information, which is revised by CODM.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif> The information revised by CODM includes the gain/loss on the sale of investment properties within sales and development segment, regardless of the segment where the property would have been originally located. These modifications affected the segments of sales and development and international. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>19</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 19.85pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Below is a summarized analysis of the lines of business of the Group for the three-month period ended September 30, 2015:</FONT></P>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Agricultural business</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(I)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Urban properties and investments business</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(II)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>679,900 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>721,016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,400,916</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(778,248) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(180,755)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(959,003)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>193,369</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>193,369</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(8,933) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(8,933)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>86,088 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>540,261</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>626,349</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>383,585</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>383,585</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(63,955) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(132,354)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(196,309)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(92,252) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(55,439)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(147,691)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>23,357 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(12,932) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>10,425</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit from operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(46,762) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>723,121</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>676,359</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of loss of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(554) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(493,105)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(493,659)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Segment (Loss) / Profit</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(47,316) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>230,016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>182,700</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>442,007 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,499,167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,941,174 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,569,225 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>255,982</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,825,207</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>130,212 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>130,212 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>6,916 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>24,440 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>31,356 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Rights to receive future units under barter agreements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>90,486 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>90,486 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>539,668 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>539,668 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>453,936 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>23,041 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>476,977 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>30,185 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,600,437</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,630,622</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total segment assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,041,937 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>6,623,765</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>9,665,702</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter23"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=ES color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>20</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_24"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader24"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 19.85pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Below is a summarized analysis of the lines of business of the Group for the three-month period ended September 30, 2014:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 19.85pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Agricultural business</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(I)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Urban properties and investments business</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(II)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>780,235 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>596,258 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,376,493 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(927,451)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(154,972) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(1,082,423) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>274,650 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>274,650 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(22,021)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(22,021) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross Profit</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>105,413 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>441,286 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>546,699 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>316,767 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>316,767 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from disposal of farmlands</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>20,957 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>20,957 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(60,836) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(80,287) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(141,123) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(87,461) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(38,052) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(125,513) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(2,239) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,948 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>709 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(Loss) Profit from operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(24,166) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>642,662 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>618,496 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(1,160) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(117,236) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(118,396) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Segment (Loss) Profit</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(25,326) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>525,426 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>500,100 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>213,881 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,558,491 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,772,372 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,112,418 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>243,605 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,356,023 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>137,276 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>137,276 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>9,792 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>24,784 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>34,576 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Rights to receive future units under barter agreements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>85,077 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>85,077 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>554,047 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>554,047 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>411,015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>18,429 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>429,444 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investments in associates</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>31,352 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,166,887 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,198,239 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total segment assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,332,505 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>6,234,549 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>9,567,054 </FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=ES color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>21</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_25"></A>

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<a name="_bclHeader25"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 19.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -21.25pt; MARGIN: 0in 0in 0pt 56.7pt"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(I)</FONT></I><I><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></I><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Agriculture line of business:</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following tables present the reportable segments of the agriculture line of business of the Group:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="73%" colSpan=10>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agriculture</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Crops</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Cattle</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Dairy</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Sugarcane</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agricultural Rental and services</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agricultural</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Land</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>transformation</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>and Sales</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agro-industrial</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Other</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>segments</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Total Agricultural business</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>270,455 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>58,023 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>17,503 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>101,649 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>11,621 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>459,251 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>189,910 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>30,739 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>679,900 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(308,020) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(78,670) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(33,610) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(143,166) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(4,782) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(568,248) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,392) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(180,859) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(26,749) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(778,248) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>97,669 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>28,243 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>16,006 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>51,451</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>193,369</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>193,369</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce </FONT></P>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>after harvest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(8,933) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(8,933) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(8,933) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Gross Profit / (Loss)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>51,171 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>7,596 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(101) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>9,934 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>6,839 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>75,439 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,392) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>9,051 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>3,990 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>86,088 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(36,682) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(8,964) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(1,710) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(6,578) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(926) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(54,860) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(337) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(6,206) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,552) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(63,955) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(62,829) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(6,070) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(841) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,746) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(287) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(72,773) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(31) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(15,312) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(4,136) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(92,252) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>21,680</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(414) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(108) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(74) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(32) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>21,052 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(21) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>349 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>1,977 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>23,357</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit from Operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(26,660) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(7,852) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,760) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>536</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>5,594</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(31,142) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,781) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(12,118) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(721) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(46,762) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Share of profit / (loss) of associates</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(95) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(95) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(459) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(554) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Segment (Loss) / Profit</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(26,755) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(7,852) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,760) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>536</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>5,594</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(31,237) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(2,781) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(12,118) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(1,180) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(47,316) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>355,552 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>22,695 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>63,760 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>442,007 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>442,007 </FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>934,349 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>156,336 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>21,856 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>330,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>780 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>1,443,737 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>52,892 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>17,796 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>54,800 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>1,569,225 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>3,837 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>2,436 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>6,273 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>643 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>6,916 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>82,102 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>358,714 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>39,030 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>59,822 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>539,668 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>539,668 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>259,545 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>57,228 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>965 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>3,622 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>321,360 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>23,701 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>108,875 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>453,936 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Investments in associates</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>28,012 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>19 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>28,031 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>2,154 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>30,185 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Total segment assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>1,663,397 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>594,992 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>61,851 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>396,296</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>64,540 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>2,781,076 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>52,892 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>41,497 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>166,472 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>3,041,937 </FONT></B></P></TD></TR></TABLE></DIV>

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<a name="_bclHeader26"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="73%" colSpan=10>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>September 30, 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agricultural</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Crops</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Cattle</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Dairy</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Sugarcane</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agricultural Rental and services</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agricultural</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Land</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>transformation</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>and Sales</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Agro-industrial</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Other</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>segments</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Total Agricultural business</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>330,404 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>62,348 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>17,467 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>100,181 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>14,136 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>524,536 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>215,927 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>39,772 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>780,235 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Costs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(437,918) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(82,743) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(32,836) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(151,158) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(5,210) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(709,865) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(2,666) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(188,820) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(26,100) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(927,451) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>161,055 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>29,177 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>17,211 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>67,207 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>274,650 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>274,650 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce </FONT></P>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>after harvest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(22,022) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(22,021) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(22,021) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Gross Profit / (Loss)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>31,519 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>8,783 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,842 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>16,230 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>8,926 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>67,300 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(2,666) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>27,107 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>13,672 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>105,413 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Gain from disposal of farmlands</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: -5.9in; MARGIN: 0in 0in 0pt 5.9in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>20,957 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>20,957 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(38,854) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(5,906) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(1,121) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(5,347) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(487) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(51,715) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(522) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(5,846) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(2,753) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(60,836) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(50,620) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(7,216) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(692) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(4,879) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(194) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(63,601) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(1,353) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(19,368) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(3,139) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(87,461) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,608 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(2,087) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(420) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>35 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(182) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(46) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(4,393) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>73 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,127 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(2,239) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit from Operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(55,347) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(6,426) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(391) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>6,039 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>8,063 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(48,062) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>12,023</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,966 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>9,907 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(24,166) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Share of loss of associates</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(1,018) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(1) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(1,019) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(141) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(1,160) </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Segment (Loss) / Profit</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(56,365) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(6,427) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(391) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>6,039 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>8,063 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(49,081) </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>12,023</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,966 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>9,766 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(25,326) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>164,417 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>10,495 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>38,969 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>213,881 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>213,881 </FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,454,877 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>140,130 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>20,404 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>377,382 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,064 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,993,857 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>54,893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>17,158 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>46,510 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,112,418 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>6,317 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,832 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>9,149 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>643 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>9,792 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>110,240 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>293,066 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>37,567 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>113,174 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>554,047 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>554,047 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>224,474 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>62,008 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>705 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,182 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>289,369 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>29,084 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>92,562 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>411,015 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Investments in associates</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>28,666 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>19 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>28,685 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,667 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>31,352 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=arial,sans-serif>Total segment assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,988,991 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>505,718 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>58,676 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>495,570 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>40,033 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>3,088,988 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>54,893</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>46,242 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>142,382 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>3,332,505 </FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=ES color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>23</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_27"></A>

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<a name="_bclHeader27"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 70.9pt"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(II)</FONT></I><I><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></I><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Urban properties line of business and investments</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 70.9pt"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following tables present the reportable segments of the Urban Properties and Investments line of business of the Group:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="75%" colSpan=13>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Shopping Center Properties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Offices </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sales and developments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Hotels</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>International</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>and others</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Urban Properties and Investment business </FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>532,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>75,149</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,291</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>110,769</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>721,016</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(79,250)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(14,154)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,406)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(81,760)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(185)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(180,755)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gross Profit / (Loss)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>453,529</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>60,995</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,115)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>29,009</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(157)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>540,261</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>383,585</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>383,585</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(37,399)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(12,000)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(28,503)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(21,603)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(32,849)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(132,354)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(31,813)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,542)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,855)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(14,106)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(123)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(55,439)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,554)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,275)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,581)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(358)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(644)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(520)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(12,932)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit / (Loss) from Operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>377,763</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>43,178</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>343,531</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,058)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(33,493)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(800)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>723,121</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share of (loss) / profit of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,395)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,126</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(562,760)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>67,924</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(493,105)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Segment Profit / (Loss)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>377,763</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>41,783</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>346,657</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,058)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(596,253)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>67,124</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>230,016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,353,183 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>955,014 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>184,271 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,699 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,499,167 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>48,570 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>30,556 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,384 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>174,205 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,267 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>255,982</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,484 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>128,728 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>130,212 </FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,719 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,180 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,541 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>24,440 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Rights to receive future units under barter agreements </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>90,486 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>90,486 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15,537 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>493 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,011 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>23,041 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>19,353 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>59,680 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,038,502</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,482,902 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,600,437</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total segment assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,432,493 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,011,103</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>469,583 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>181,216 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,039,769</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,489,601 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,623,765</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=arial,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.1pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="69%" colSpan=13>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>September 30, 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Shopping Center Properties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Offices </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sales and developments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Hotels</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>International</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>and others</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Urban Properties and Investment business</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>387,675 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>81,024 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,804 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96,827 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>25,873 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>55 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>596,258 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(66,592) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(10,968) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,576) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(66,488) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,121) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(227) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(154,972) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gross Profit / (Loss)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>321,083 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>70,056 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,228 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>30,339 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,752 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(172) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>441,286 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>316,767</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>316,767 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(25,938) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(11,289) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(10,070) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(17,289) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(15,701) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(80,287) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(18,939) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,981) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,922) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(13,092) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(118) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(38,052) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,874) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,397) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(756) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(335) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(249) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,559 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,948 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit / (Loss) from Operations</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>273,332 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>53,389 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>305,247</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(377) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,802</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,269 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>642,662 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share of profit / (loss) of associates and joint ventures</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.. </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,619 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,296 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>345 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(183,674) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>60,178 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(117,236) </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Segment Profit / (Loss)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>273,332 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>58,008 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>306,543 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(32) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(180,872) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>68,447 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>525,426 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,270,452 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>847,481 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>433,249 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,309 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,558,491 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>26,836 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>36,327 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,840 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>175,149 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,453 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>243,605 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,484 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>135,792 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>137,276 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,582 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11,661 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,541 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>24,784 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Rights to receive future units under barter agreements </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,264 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>75,813 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>85,077 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12,100 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>618 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,711 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,429 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>27,868 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>39,585 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>22,474 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>763,443 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,313,517 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,166,887 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="31%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total segment assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,328,718 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>923,337 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>693,438 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>203,334 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>764,896 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,320,826 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,234,549 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>

<a name="_bclFooter28"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 1pt" lang=ES color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=X-NONE face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>25</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -42.55pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following tables present a reconciliation between the profit / (loss) from operations as per the segment information and the results of operations as per the income statements. The adjustments relate to the presentation of the results of operations of joint ventures accounted for under the equity method under IFRS.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.6pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" colSpan=9>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.6pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total segment information</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Adjustment for share of profit / (loss) of joint ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Adjustment to</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>income for elimination of</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>inter-segment transactions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Expenses and collective promotion funds</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income statements</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,400,916 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(11,443) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(20,286) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>255,174</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,624,361 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(959,003) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>11,960 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>11,559 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(259,107)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(1,194,591) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>193,369 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(4,461)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>7,717 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>196,625 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(8,933) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(8,933) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gross Profit / (Loss)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>626,349 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(3,944) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(1,010) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(3,933)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>617,462 </FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>383,585 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>383,585 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(196,309) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>874 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>977 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(194,458) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(147,691) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>909 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>266 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(146,516) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>10,425</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>517 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(233) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>10,709 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit / (Loss) from operations before share of profit / (loss) of associates and joint ventures</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>676,359 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(1,644) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(3,933)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>670,782 </FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share of loss of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(493,659) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(3,010) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(496,669)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit / (Loss) from Operations before Financing and Taxation</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>182,700</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(4,654) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(3,933)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>174,113</FONT></B></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>26</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.2pt">

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.6pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="59%" colSpan=9>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>September 30, 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.6pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total segment information</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Adjustment for share of profit / (loss) of </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>joint ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Adjustment to</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>income for elimination of</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>inter-segment transactions</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Expenses and collective promotion funds</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income statements</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,376,493</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(10,557)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(43,874) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>201,422 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,523,484 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(1,082,423)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>9,870</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>33,630 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(204,300) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(1,243,223) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>274,650</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(1,765) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>9,342</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>282,227 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in net realizable value of agricultural produce after harvest</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(22,021)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(22,021) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gross Profit / (Loss)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>546,699</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(2,452)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(902) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(2,878) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>540,467 </FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>316,767</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>316,767 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain from disposal of farmlands</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>20,957</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(20,957) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(141,123)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,102</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>670</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(139,351) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(125,513)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,521</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>438 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(122,554) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>709</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>461</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(206) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>964 </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit / (Loss) from operations before share of profit / (loss) of associates and joint ventures</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>618,496</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(19,325) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(2,878) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>596,293 </FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share of (loss) / profit of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(118,396)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>15,668</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(102,728) </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0.55pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit / (Loss) from Operations before Financing and Taxation</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>500,100</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(3,657)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(2,878) </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>493,565 </FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following tables present a reconciliation between total segment assets as per segment information and total assets as per the statement of financial position. Adjustments are mainly related to the filing of certain classes of assets in segment information and to the proportional consolidation of joint ventures mentioned previously.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Assets per segment based on Segment Information</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,665,702</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,567,054</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Less</FONT></U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Proportionate share in reportable assets per segment of joint ventures (*) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(530,276)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(325,559)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Plus</FONT></U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investments in joint ventures (**)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>361,521</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>335,711</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other non-reportable assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,240,121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>5,569,190</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Consolidated Assets as per Statement of financial position</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,737,068</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>15,146,396</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter30"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>27</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_31"></A>

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<a name="_bclHeader31"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Segment information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 7.05pt 0pt 49.65pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(*)&nbsp; Below is a detail of the proportionate share in assets by segment of joint ventures included in the information reported by segment.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>505,475</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>299,421</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,608)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,994</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,889</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Goodwill </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,223</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,221</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,726</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,308</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total proportionate share in assets per segment of joint ventures</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>. </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>530,276</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>325,559</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 7.05pt 0pt 49.65pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(**) Represents the equity-accounted amount of those joint ventures, which were proportionate-consolidated for segment information purposes</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -42.55pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>7.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Information about principal subsidiaries</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 42.55pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 7.05pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Group conducts its business through several operating and holding subsidiaries. See breakdown of Group, their percentage of ownership interest, materiality criteria and other relevant information on the Group&#8217;s subsidiaries in Note 2.3. a) of the Consolidated Financial Statements as of June 30, 2015 and 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 42.55pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.55in; MARGIN: 0in 7.05pt 0pt 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Set out below is the summarized financial information for each subsidiary that has non-controlling interests that are material to the Group:</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Summarized statements of financial position</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.55pt 0pt 0in"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>IRSA</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="27%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Brasilagro</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.55pt 0pt 0in"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>06.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>06.30.15</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 6.55pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Non-current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>7,955,390</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>8,346,656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,371,783</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,667,179</FONT></P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Current assets</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,694,316</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,896,817</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,004,321</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,315,092</FONT></P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Total Assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>10,649,706</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>10,243,473</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,376,104</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,982,271</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Non-current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>5,374,655</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>4,682,406</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>135,689</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>195,469</FONT></P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Current liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,693,721</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,689,901</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>300,315</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>583,132</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Total Liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>8,068,376</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>7,372,307</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>436,004</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>778,601</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 6.5pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,581,330</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,871,166</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,940,100</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,203,670</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter31"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>28</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader32"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 56.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 56.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>7.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Information about principal subsidiaries&nbsp; </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Summarized income statements and statements of comprehensive income</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>IRSA</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Brasilagro</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>968,490</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>790,069</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>161,511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>185,037</FONT></P></TD></TR>

<TR style="HEIGHT: 11pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(Loss) / Profit before income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(203,698)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>312,130</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>174,393</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>12,863</FONT></P></TD></TR>

<TR style="HEIGHT: 11pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Income tax expense</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(112,269)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(176,331)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(57,730)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(7,090)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.5pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Profit for the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.5pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(315,967)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.5pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>135,799</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.5pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.5pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>116,663</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.5pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>5,773</FONT></P></TD></TR>

<TR style="HEIGHT: 11pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>35,873</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>45,063</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>65,833</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>26,853</FONT></P></TD></TR>

<TR style="HEIGHT: 11pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Total other comprehensive (loss) / income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(280,094)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>180,862</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>182,496</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>32,626</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Profit / (Loss) attributable to non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(39,612)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>140,948</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Summarized cash flows</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>IRSA</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Brasilagro</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash flow from operating activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net cash generated from operating activities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>368,664</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>252,094</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>6,279</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>3,692</FONT></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash flow from investing activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net cash (used in) generated from investing activities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(282,278)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,068,630</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>329,546</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(104,814)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash flow from financing activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net cash generated from (used in) financing activities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>219,604</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(711,352)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(210,810)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(111,210)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net increase (decrease) in cash and cash equivalents</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>305,990</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>609,372</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>125,015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(212,332)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents at beginning of period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>375,180</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>609,907</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>221,567</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>320,349</FONT></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Foreign exchange gain / (loss) on cash and cash equivalents</FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>17,046</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>26,217</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(51,786)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(9,270)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents at end of period</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>698,216</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,245,496</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>294,796</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>98,747</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The information above is the corresponding to balances and transactions before inter-company eliminations.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in joint ventures</FONT></B></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As of September 30, 2015 and June 30, 2015 the joint ventures of the Group are Cresca S.A., Cyrsa S.A., Puerto Retiro S.A., Baicom Networks S.A., Quality Invest S.A., Nuevo Puerto Santa Fe S.A. ("NPSF"), Entretenimiento Universal S.A. and Entertainment Holdings S.A. ("EHSA"). The shares in these joint ventures are not publicly traded.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>29</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in joint ventures </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Changes in the Group&#8217;s investments in joint ventures for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>378,419</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>395,243</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Capital contribution </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>95,449</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Capital reduction (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(110,860)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cash dividends (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(33,614)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of (loss) / profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(4,179)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,356</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,228</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26,845</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>380,468</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>378,419</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 49.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>During the fiscal year ended June 30, 2015, the Group cashed dividends from Nuevo Puerto Santa Fe in the amount of Ps. 2.6 million and from Cyrsa in the amount of Ps. 31.0 million. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(ii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>During the fiscal year ended June 30, 2015, Cyrsa S.A. carried out a distribution to IRSA due to capital reduction in the amount of Ps. 110.9 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Restrictions, commitments and other matters in respect of joint ventures</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>According to Argentine law, 5% of the profit of the year is separated to constitute a legal reserve until they reach legal capped amounts (20% of total capital). This legal reserve is not available for dividend distribution and can only be released to absorb losses. The Group&#8217;s joint ventures have not reached the legal capped amounts.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>There are no contingent liabilities relating to the Group&#8217;s interest in joint ventures, and there are no contingent liabilities of the joint ventures themselves.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt; TEXT-DECORATION: none" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Quality Invest S.A.</FONT></U></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In March 2011, Quality purchased an industrial plant owned by Nobleza Piccardo S.A.I.C.y F. (&#8220;Nobleza&#8221;), a major tobacco company in Argentina. The industrial plant is located in San Martin, Province of Buenos Aires, and is suitable for redevelopment into multiple uses. The purchase price was US$ 33.0 million. As part of the agreement, Nobleza requested the plant to be leased back to it for a maximum period of three years thus allowing it enough time to gradually moving its operations to the new site. On March 2, 2015, an Agreement Letter has been signed for the completion of lease agreement and restitution of San Mart&#237;n plant. In April 2011, Quality requested the CNDC, to issue an advisory opinion on the obligation to notify the operation or not. Subsequently, the Court of Appeals confirmed the CNDC's decision regarding the obligation to notify and, therefore, on February 23, 2012, form F1 was filed, which is being processed as of the date of these financial statements are issued.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in joint ventures </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As authorized by the relevant Ordinance, on January 20, 2015 Quality Invest S.A. entered into an Urbanization Agreement with the Municipality of San Mart&#237;n which governs several regulatory aspects and sets forth a binding assignment of meters in exchange for cash contributions subject to formalization of certain administrative milestones included in the rezoning process. The Agreement contemplates a monetary compensation to the City Council totaling Ps. 40.0 million, payable in two installments of Ps. 20.0 million each. The first of such installments was actually paid on June 30, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Entertainment Holdings S.A.</FONT></U></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>During November 2012, IRSA Commercial Properties acquired shares of common stock, representing 50% of EHSA&#8217;s capital stock and votes and as a consequence IRSA Propiedades Comerciales holds a jointly indirect interest in LRSA of 25% which operates the fairground Predio Ferial de Buenos Aires.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>In connection with the Fairground, as publicly known, in December 2012 the Executive Branch issued Executive Order 2552/12 that annulled an executive order dated 1991 which approved the sale of the Fairground to the SRA; the effect of this new order was to revoke the sale transaction. Subsequent to December 21, 2012, the Executive Branch notified the SRA of said executive order and further ordered that the property be returned to the Federal Government within 30 subsequent days. Then, the SRA issued a press release publicly disclosing the initiation of legal actions. Furthermore, as it has become publicly known, on August 21, 2013, the Supreme Court of Justice rejected the appeal filed by the National State against the interim measure timely requested by the SRA.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Neither has IRSA Commercial Properties been served notice formally nor is it a party involved in the legal actions brought by the SRA.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Given the potential dimension of the dispute, as it has been known to the public, we estimate that if Executive Order 2552/2012 was found to be unconstitutional, such order shall have no legal effects either in EHSA or in the acquisition by IRSA Commercial Properties of equity interest in EHSA. However, if the opposite happen, that is, a court order declaring the nullity of Executive Order 2699/91 could have a real impact on acquired assets. In this scenario, the judicial decision may&nbsp; render the purchase of the Plot of Land by SRA null and void , and all acts executed by SRA in relation to the Plot of Land, including the right of use currently held by the entity where EHSA has an indirect equity interest, through vehicle entities, would also become null and void.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On June 1, 2015, a ruling was issued in case 4573/2012 SOCIEDAD RURAL ARGENTINA vs. NATIONAL STATE &#8211; EXECUTIVE POWER ON DECLARATORY ACTION, whereby the injunction staying the effects of Executive Order 2552/12 was lifted.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in joint ventures </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On June 2, 2015 the Sociedad Rural Argentina filed a writ of appeals against the ruling indicated above and on that same date the appeal was admitted with staying effects. While a decision on the appeal filed with the Court is pending, the motion to lift the injunction filed by the National State will have no effect.</FONT></P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On September 17, 2015 </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>DIVISION II rejected the motion to lift the injunction, which decision was challenged by the National State by way of an Extraordinary Resource.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Notwithstanding the above, to the date we are not aware of any judicial measure petitioned by the owner of the Plot of Land and/or the National Government, or the corresponding appeals or rulings, may have affected the actual use of the Plot of Land.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>There are no contingent liabilities relating to the Group&#8217;s interest in joint ventures, and there are no contingent liabilities of the joint ventures themselves, different to the mentioned above.</FONT></P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Puerto Retiro S.A.</FONT></U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (&#8220;Puerto Retiro&#8221;)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On April 18, 2000, Puerto Retiro S.A. was notified of a filing made by the National Government, through the Ministry of Defense, to extend the petition in bankruptcy of Inversora D&#225;rsena Norte S.A. (Indarsa) to Puerto Retiro. At the request of plaintiff, the bankruptcy court for the Buenos Aires District issued an order restraining the ability of Puerto Retiro to sell or dispose in any manner the land.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Indarsa had acquired 90% of the capital stock of Tandanor to a formerly estate owned company in 1991. Tandanor is mainly engaged in ship repairs, which activity was carried out in premises with a surface of 19 hectares located near La Boca and where Syncrolift is currently installed.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Indarsa did not comply with the payment of the outstanding price for the acquisition of the stock of Tandanor, and therefore the Ministry of Defense requested the bankruptcy of Indarsa, pursuing to extend the bankruptcy to Puerto Retiro.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The evidence steps of the legal procedures have been completed Puerto Retiro appealed the precautionary measure, being the same confirmed by the Court on December 14, 2000. The parties have submitted their claims in due time. The file was passed for the judge to issue a pronouncement, the judge issued a decree adjourning the summoning of decisions to pronouncement in the understanding that there exists pre-judgment in respect of the penal cause filed against ex-officers of the Ministry of Defense and ex-directors of the Company. Consequently, the matter will not be solved until there is final judgment in penal jurisdiction.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in joint ventures </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Notice has been served upon the commercial court that the criminal cause of action was declared extinguished by operation of the statutes of limitation and that the accused were acquitted. However, this ruling was revoked by the Criminal Cassation Court; an extraordinary remedy was filed, which was denied. Then a grievance remedy was filed with the Argentine Supreme Court, which has not yet decided on the dispute.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Management and legal advisors of Puerto Retiro estimate that there are legal and technical arguments sufficient to consider that the request for bankruptcy will be denied by the court. However, given the current status of the case, we cannot predict its outcome.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In addition, Tandanor filed a civil action against Puerto Retiro and other accused parties in the criminal case for violation of section 174 subsection 5, under section 173 subsection 7 of Criminal Code. The claim expects that upon invalidation of executive order that approved the bid of D&#225;rsena Norte plot of land, Tandanor be reimbursed any other sum of money that it claims to have lost due to the alleged fraudulent purchase-sale transaction of the real property disputed in the case.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Puerto Retiro filed an answer to the complaint in due course in relation to the civil action, and filed some affirmative defenses. Tandanor requested the intervention of the National State as third party in the proceedings, which was admitted by the Court. In March 2015 both the National State and the plaintiffs answered the motion for affirmative defenses filed by the defendant. To date, no decision has been made regarding such defenses. Until the court rules on the admissibility of such affirmative defenses, we cannot predict the outcome; yet, there are some technical legal arguments that support the company&#8217;s position.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in associates</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As of June 30, 2015, the associates of the Group were Agro-Uranga S.A., Agromanagers S.A., New Lipstick LLC, BHSA, IDBD, Tarshop S.A., Manibil S.A., Lipstick Management LLC and Banco de Cr&#233;dito y Securitizaci&#243;n S.A. ("BACS").</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As of September 30, 2015, the associates of the Group were Agro-Uranga S.A., Agromanagers S.A., Agrofy S.A., New Lipstick LLC, BHSA, IDBD, Tarshop S.A., Manibil S.A., Lipstick Management LLC and Banco de Cr&#233;dito y Securitizaci&#243;n S.A. ("BACS").</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>33</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in associates </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The evolution of the Group&#8217;s investments in associates for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,652,938</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,803,114</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Acquisition of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,254,306</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Capital contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>34,374</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,937</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of profit / (loss)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>65,433</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(29,329)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>34,788</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>87,476</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cash dividends (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,422)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(17,597)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Disposal of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(33,768)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reclassification to financial instruments (Note 4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(30,089)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Unrealized gain from investments at fair value</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(557,923)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(412,112)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year (ii)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,227,188</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,652,938</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 49.6pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>During the three-month period ended September 30, 2015, the Group cashed dividends from Agro-Uranga S.A. in the amount of Ps. 0.5 million. During the year 2015, the Group cash dividends from Agro-Uranga S.A. and BHSA in the amount of Ps. 4.7 million and Ps. 12.9 million, respectively.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(ii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Includes a balance of Ps. (384,488) and Ps. (362,931) reflecting interests in companies with negative equity as of September 30, 2015 and June 30, 2015, respectively, which are reclassified to &#8220;Provisions&#8221; (see note 24).</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Restrictions, commitments and other matters related to associates</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>According to Argentine law, 5% of the profit of the year is separated to constitute a legal reserve until they reach legal capped amounts (20% of total capital). This legal reserve is not available for dividend distribution and can only be released to absorb losses. The Group&#8217;s associates under this law have not reached the legal limits of this reserve.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>There are no contingent liabilities relating to the Group&#8217;s interest in associates, and there are no contingent liabilities of the associates themselves.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt; TEXT-DECORATION: none" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Tarshop S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Over the past two fiscal years, the BCRA modified certain aspects of the regulatory framework carried out by Tarshop S.A. Based on these changes, our Associate is going through a business reformulation process.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In addition, during October 2014 Banco Hipotecario S.A and IRSA CP approved a gradual capitalization plan to be carried out by shareholders pro rata their holdings; the first tranche of such capitalization has already been made for a total amount of Ps. 110.0 million.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>34</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in associates </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Non-competition agreement for the sale of the equity interest </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Due to the sale assignment and transfer of the 80% of the equity interest in Tarshop to BHSA, made during the fiscal year ended June 30, 2011, the Group committed itself to not competing for 5 years in the credit card and/or consumer loan business in which Tarshop has a presence.</FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>New Lipstick</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>New Lipstick has a pledge over the shares of its operating subsidiary Metropolitan 885 Third Avenue Leasehold LLC (&#8220;Metropolitan&#8221;). Metropolitan owns the building known as Lipstick Building in Manhattan.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Rigby 183 LLC</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>During fiscal year 2015 Rigby has received notification from the State of New York in relation to the tax on the transfer of real property associated to the sale of shareholdings between shareholders in 2012. The amount claimed amounted to US$ 0.5 million.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif> In September 2015, the State of New York </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>notified the ruling in favor of Rigby, thereby dismissing the claim made.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>IDBD</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Under the Agreement, Dolphin and ETH promised to participate on a joint and several basis in the capital increases resolved by IDBD&#8217;s Board of Directors in order to carry out its business plan for 2014 and 2015, for at least NIS 300 million in 2014 and NIS 500 million in 2015. As of September 30, 2015, Dolphin has contributed NIS 668.6 million in aggregate (NIS 400 million of which are creditable against its commitment) and ETH has contributed NIS 203.5 million in IDBD. In this way, Dolphin has completed its committed contributions, while IDBD is claiming from ETH, and Dolphin, under its joint and several liability, to pay the balance committed by ETH for an aggregate of NIS 196.5 million (equivalent to approximately US$ 50.1 million at the exchange rate prevailing as of September 30, 2015).</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>35</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in associates </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Moreover, as part of the Arrangement, Dolphin and ETH promised jointly and severally to make Tender Offers for the purchase of IDBD&#8217;s shares for a total amount of NIS 512.09 million (equivalent to approximately US$ 128 million at the exchange rate prevailing as of September 30, 2015), as follows: (i) by December 31, 2015 at least NIS 249.8 million for a price per share of NIS 7.798 (value as of September 30, 2015, subject to adjustment) and (ii) by December 31, 2016, for at least NIS 512.09 million, less the offer made in 2015, for a price per share of NIS 8.188 (value as of September 30, 2015, subject to adjustment). As security for the performance of the tender offers, a total of 34,130,119 shares in IDBD were pledged as of September 30, 2015. In addition, as of September 30, 2015, 49,695,135 shares, 23,950,072 Series 4 warrants, 22,752,569 Series 5 warrants and 20,357,561 Series 6 warrants of IDBD held by Dolphin were deposited in escrow as pledge collateral, and are expected to be soon transferred to an account not subject to pledge. As of the date of issuance of these financial statements, the Tender Offer has not been consummated.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On May 12, 2014, IDBD&#8217;s shares became listed on the TASE. Consequently, all the shares acquired to date (including the pledged shares) were deposited in escrow with Bank Leumi Le-Israel as security in compliance with the lock-up provisions set forth in Chapter D of the TASE Regulations, which provide that initially listed shares may not be disposed of for a term of 18 months and allow the release of 2.5% per month beginning on the fourth month since the initial listing date. Hence, in accordance with TASE Rules applicable to September 30, 2015, 5,240,822 shares and 335,715 warrants of Series 3 were still deposited under the terms described above. The lock-up provisions will be effective up to November 12, 2015.</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Furthermore, Dolphin promised to inject funds in IDBD, directly or through an affiliated company, for at least NIS 256 million and up to NIS 400 million, as follows: </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(i) NIS 256 million through the exercise of the New Rights arising from the Rights Offering by Dolphin; (ii) an additional investment (the &#8220;Additional Investment&#8221;) for an amount equivalent to (a) the Maximum Immediate Payment (as such term is defined in Note 3 to the Consolidated Financial Statements for the fiscal year ended June 30, 2015), less (b) the amount received by IDBD under the Rights Offering, excluding the exercise of the new warrants, but in no case for an amount higher than NIS 144 million.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif> The Additional Investment will be made by Dolphin or a vehicle controlled by Eduardo Sergio Elsztain exercising additional rights to be acquired by them or, if such rights are not acquired, by participating in another rights offering to be made by IDBD. On February 10, 2015, Dolphin subscribed a total of NIS 391.5 million, with a remaining contribution commitment of NIS 8.5 million.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in associates </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Furthermore, as established in Note 3, Dolphin agreed to (i) exercise Series 4 of Warrants for a total amount of NIS 150 million, provided it is so requested by the Board of IDBD within 6 to 12 months of the Rights Offering date, and (ii) exercise the remaining warrants of Series 4, and Series 5 and 6 received as part of the Rights Offering, if two conditions are simultaneously met, to wit: (a) that IDBD and its lenders reach an agreement to amend some covenants, and (b) that the Commissioner of Capital Markets, Insurance and Savings of Israel approves control over Clal.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On May 6, 2015, Dolphin submitted to IDBD's Board of Directors the following binding and irrevocable proposal, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>which provided, among others, that Dolphin</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (directly or through any vehicle controlled by Eduardo Sergio Elsztain), promises to make a capital injection for up to NIS 100 million in IDBD, subject to the following conditions, among others: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 10pt 53.4pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(a)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>That IDBD make a public offering of its shares, under terms acceptable to the market and approved by IDBD&#8217;s Board of Directors, for an amount of at least NIS 100 million and not to exceed NIS 125 million, and that the offering is made between October 1, 2015 and November 15, 2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 53.4pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(b)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;The commitment assumed by Dolphin would automatically expire upon the occurrence of any of the following events before the day of the public auction under the public offering: (i) if any of IDBD&#8217;s creditors or any of the representatives of IDBD&#8217;s bondholders files legal actions against IDBD, including a complaint seeking the early or immediate repayment or acceleration of any portion of IDBD&#8217;s debt; (ii) if a meeting of any of IDBD&#8217;s bondholders is called including in its agenda any of the matters set forth in paragraph (ii); (iii) if IDBD receives capital contributions for a total amount of NIS 100 million in any manner, whether through a rights offering, the exercise of warrants, a private or public placement, and if such contributions are made by Dolphin directly or through any vehicle controlled by Eduardo Sergio Elsztain (apart from the capital contributions creditable against the NIS 158.5 million obligation under Dolphin&#8217;s irrevocable proposal dated December 29, 2014), or by any other individual or legal entity, or the investor public, and at any event when the aggregate amount of such capital contributions under paragraph 5 (d) (iii) of the proposal so submitted is lower than NIS 100 million, Dolphin&#8217;s commitment under Section 5 (c) above would be reduced accordingly; or (iv) if an adverse event or change occurs in IDBD or its control structure or in any of its material affiliates.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0in 0pt 56.7pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On May 7, IDBD's Board of Directors approved the proposal. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interests in associates </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On June 29, 2015, Dolphin submitted an irrevocable proposal to IDBD and DIC (the &#8220;Proposal Sent to IDBD and DIC&#8221;) which offered that, subject to its approval by the Boards of Directors of both companies, DIC would start as soon as possible a rights offering for up to approximately NIS 500 million (&#8220;DIC&#8217;s Rights Offering&#8221;) (equivalent to US$ 127.4 million at the exchange rate prevailing as of September 30, 2015). Under DIC&#8217;s Rights Offering, each shareholder of the company would receive, for no consideration, DIC&#8217;s right units consisting of 4 series of warrants issued by DIC (which would be registered for trading in the TASE), each of which would be exercisable for one common share of DIC (&#8220;DIC&#8217;s Warrants&#8221;), with the following features:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>DIC&#8217;s Warrants would be divided into 4 series, and the exercise price of each of such series would be approximately NIS 125 million, as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 70.9pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="courier new">o</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The first series of warrants would be exercisable until December 21, 2015, for a price to be determined based on acceptable market conditions and after consultation with capital market experts, but in no case for a higher price than NIS 6.53 (&#8220;DIC&#8217;s 1 Warrants&#8221;). </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 70.9pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="courier new">o</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The second series of warrants would be exercisable until December 21, 2016, for an exercise price equivalent to 110% of DIC&#8217;s 1 Warrants&#8217; exercise price.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 70.9pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="courier new">o</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The third series of warrants would be exercisable until December 21, 2017, for an exercise price of: (i) 110% of DIC&#8217;s 1 Warrants&#8217; exercise price, in the event they are exercised before December 21, 2016; or (ii) 120&nbsp;% of DIC&#8217;s 1 Warrants&#8217; exercise price if they are exercised between December 21, 2016 and December 21, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 70.9pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="courier new">o</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The fourth series of warrants would be exercisable until December 21, 2018, for an exercise price of: (i) 110&nbsp;% of DIC&#8217;s 1 Warrants&#8217; exercise price, in the event they are exercised before December 21, 2016; or (ii) 130&nbsp;% of DIC&#8217;s 1 Warrants&#8217; exercise price if they are exercised between December 21, 2016 and December 21, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 56.7pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>As part of DIC&#8217;s Rights Offering, IDBD would promise to exercise all DIC&#8217;s 1 Warrants issued in favor of IDBD, for a total amount of approximately NIS 92.5 million (&#8220;IDBD&#8217;s Investment Amount&#8221;) by December 21, 2015, provided that the following conditions have been satisfied as of such date:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 70.9pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="courier new">o</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>IDBD should have the written consent of IDBD&#8217;s main lenders for IDBD to exercise DIC&#8217;s 1 Warrants issued in its favor under DIC&#8217;s Rights Offering.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 70.9pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="courier new">o</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>IDBD should have conducted and completed a Rights Public Offering (as such term is defined below), under which it should have raised an amount of at least NIS 200 million.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>9.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Interests in associates </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="courier new">o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>IDBD should have received the written consent of its main lenders in order for any amount injected as capital in IDBD after the date of such proposal in excess of NIS 100 million and up to NIS 350 million, to be used at any time for injection from IDBD into DIC, through any capital injection method.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 89.45pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In turn, Dolphin proposes the following to IDBD:</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 53.45pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="courier new">o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>IDBD&#8217;s public offering amount under Dolphin&#8217;s proposal dated May 6 would be increased by at least NIS 100 million and up to NIS 125 million (the &#8220;Rights Public Offering under the Proposal to IDBD and DIC&#8221;). In other words, the total amount would be increased from a minimum of NIS 100 million to a maximum of NIS 200 million, and the maximum amount would be increased from a maximum of NIS 125 million to a maximum of NIS 250 million (the &#8220;Total Increased Amount&#8221;).</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="courier new">o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Therefore, Dolphin&#8217;s obligation to participate in the Rights Public Offering under the Proposal to IDBD and DIC would be increased (compared to the proposal dated May 6, 2015) by an amount equal to the difference between the Total Increased Amount and the total amount of commitments received, always provided that such amount were not higher than NIS 200 million (the &#8220;Capital Contribution Amount&#8221;).</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="courier new">o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The approval of this proposal would constitute IDBD&#8217;s confirmation and approval that all of Dolphin&#8217;s commitments under this proposal would imply the full and complete settlement of its remaining obligations to inject NIS 8.5 million in IDBD, pursuant to Dolphin&#8217;s irrevocable proposal dated December 29, 2014.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="courier new">o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Dolphin&#8217;s commitment would automatically expire upon the occurrence of any of the following events: (i) if any of DIC&#8217;s creditors or any of the trustees of DIC&#8217;s bonds filed any legal action against DIC, including a complaint seeking the early repayment or acceleration of any portion of DIC&#8217;s debt; and/or (ii) if any meeting of DIC&#8217;s bondholders included in its agenda any one or more of the following matters: (a) appointment of advisers (financial, legal or otherwise); (b) appointment of a committee of representatives of DIC&#8217;s bondholders; (c) filing of any legal action against DIC; and/or (d) complaints for early or immediate repayment of any portion of DIC&#8217;s debt, or any similar discussion.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 89.45pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The Proposal to IDBD and DIC was binding and irrevocable, and it was valid up to July 13, 2015 and expired on such date if the Boards of Directors of IDBD and DIC did not accept it and approve it unconditionally. The Proposal to IDBD and DIC was approved by IDBD&#8217;s Board of Directors on July 16, 2015.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>39</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.75in; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.75in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>9.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Interests in associates </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>On July 9 and 16, 2015, Dolphin submitted explanations on the Proposal to IDBD and DIC. On July 9, 2015, the main explanations were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The termination or expiration of the Proposal to IDBD and DIC would not repeal the commitments undertaken by Dolphin under the proposal submitted by Dolphin to IDBD on May 6, 2015, always provided that such commitments continued in full force and effect subject to the proposed terms, or Dolphin&#8217;s remaining commitment to inject NIS 8.5 million in IDBD pursuant to its irrevocable proposal dated December 29, 2014.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>A further condition would be added to the Proposal to IDBD and DIC whereby if Dolphin&#8217;s interest in the rights public offering were lower than NIS 8.5 million, Dolphin would remain obliged vis-&#224;-vis IDBD to inject the remaining amount arising from subtracting NIS 8.5 million and the amount effectively injected at this instance by Dolphin.</FONT></P>

<P style="MARGIN: 0in 0in 0in 0.5in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>IDBD would replace its commitment to exercise DIC&#8217;s Series 1 warrants for NIS 92.5 million with the commitment to exercise the Series 1 warrants for at least the amount that results from subtracting: (a) the Capital Contribution Amount and (b) NIS 100 million; always provided that such amount does not exceed NIS 92.5 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>On July 13, 2015, Dolphin extended the maturity of the Proposal to IDBD and DIC until July 16, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In addition, on July 16, 2015, Dolphin submitted additional explanations on the Proposal to IDBD and DIC dated June 29, 2015 and July 9, 2015, which provided as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Dolphin agrees that the new shares to be acquired by Dolphin or any entity controlled by Eduardo Sergio Elsztain under the public offering of shares to be made by IDBD during October 2015 would not grant to it the right to participate in the Tender Offer (as such term is defined in Note 3 to Consolidated Financial Statements for the fiscal year ended June 30, 2015) always provided that such new shares are still held by Dolphin or an entity controlled by Eduardo Sergio Elsztain. Notwithstanding, nothing will prevent Dolphin and/or the entity controlled by Eduardo Sergio Elsztain that holds such new shares to be acquired under the public offering to be made in October 2015 by IDBD from freely disposing of them.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>40</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.75in; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.75in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>9.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Interests in associates </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>On July 16, 2015, IDBD&#8217;s Board of Directors approved a capital increase by means of a public offering pursuant to the terms proposed by Dolphin in the Proposal to IDBD and DIC, and to exercise DIC&#8217;s warrants, all based on Dolphin&#8217;s irrevocable commitment to participate in the referred capital increase. IDBD plans to carry out the public offering between October and November 2015, subject to the company&#8217;s corporate approvals, other statutory consents required and the fact that the exercise of DIC&#8217;s warrants can be made pursuant to the terms and conditions set forth in Dolphin&#8217;s proposal. Additionally, on July 16, 2015, DIC&#8217;s Board of Directors accepted the Proposal to IDBD and DIC and instructed its management to take such steps as necessary in order to make a rights offering pursuant to Dolphin&#8217;s proposal. On August 27, 2015 DIC published the rights offering prospectus and on September 6, 2014 DIC issued 4 series of warrants to its shareholders. As of the date of submittal of these financial statements, IDBD had not completed the capital injection in DIC.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>On August 16, 2015 and amended on September 9, 2015, the Arrangement Trustees submitted a petition to the competent court (the "Petition of the Arrangement Trustees"), including Dolphin and IFISA among other stakeholders, for it to determine whether: (a) IFISA would be subject to the commitments related to the Tender Offer under identical terms as Dolphin; (b) the shares held by any other company controlled by Eduardo Sergio Elsztain (including Dolphin) would not be eligible to take part in the Tender Offer; and (c) the shares held by any company controlled by Eduardo Sergio Elsztain (including Dolphin) and transferred to other entities would not be eligible to take part in the Tender Offer.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>On September 29, 2015 the Arrangement Trustees </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>submitted a petition to the competent court for it to </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>issue a temporary order prohibiting Dolphin, IFISA and others to carry out any transactions with IDBD&#8217;s shares until the court decided on the petition made by the Arrangement Trustees. See Note 41 for further information.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>41</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>10.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Investment properties</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Changes in the Group&#8217;s investment properties for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt; TEXT-INDENT: -28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Shopping Center Properties</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Office buildings and other rental properties portfolio </FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Undeveloped parcels of land</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Leased out </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>farmland</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Properties</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>under development (ii)</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Year ended June 30, 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,791,947</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>825,858</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>421,520</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>51,434</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>363,857</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,454,616</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>60,361</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>5,893</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,569</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>8,354</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>173,500</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>249,677</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Reclassification to available for sale</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3,107)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3,107)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Reclassification to property, plant and equipment</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(140)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(8,305)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(11,732)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(8,779)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(28,956)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Reclassification of property, plant and equipment</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>20,224</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>40,521</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>60,745</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Capitalized borrowing costs</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>12,957</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>12,957</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(114)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(102,599)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3,251)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(192)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(2,077)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(108,233)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Depreciation charge (i)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(124,790)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(26,769)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(5,237)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(156,796)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(5,944)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(5,944)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Transfers</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: 1pt outset; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>491,047</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: 1pt outset; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>23,080</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: 1pt outset; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>25,331</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: 1pt outset; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: 1pt outset; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(539,458)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: 1pt outset; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,215,204</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>737,382</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>445,169</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>77,204</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,474,959</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>At June 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,736,761</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,028,507</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>445,169</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>77,204</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>5,287,641</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(1,521,557)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(291,125)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(1,812,682)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Net book amount</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,215,204</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>737,382</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>445,169</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>77,204</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,474,959</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Period ended September 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,215,204</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>737,382</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>445,169</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>77,204</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,474,959</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>45,968</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>811</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>147</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>46,926</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Reclassification of property, plant and equipment</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>4,317</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(238)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>4,079</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(26,439)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3,558)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(849)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(30,846)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Depreciation charge (i)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(36,621)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(10,296)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(136)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(47,053)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(12,366)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(12,366)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,224,551</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>705,775</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>441,611</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>63,762</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,435,699</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>At September 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,754,784</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>989,022</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>441,611</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>63,762</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>5,249,179</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(1,530,233)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(283,247)</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(1,813,480)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Net book amount</FONT></P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,224,551</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>705,775</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>441,611</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>63,762</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 5.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 5.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,435,699</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 7.1pt; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face=arial,sans-serif>Depreciation charge of investment property has been charged in &#8220;Costs&#8221; in the income statements (Note 30).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face=arial,sans-serif>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face=arial,sans-serif>Includes transfers due to the inauguration of Alto Comahue and Distrito Arcos Shopping Centers.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>42</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>10.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Investment properties </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The following amounts have been recognized in the income statements: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 16.05pt">

   <TD style="HEIGHT: 16.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 16.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 16.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 16.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.4pt">

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Rental and service income</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>856,374</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>689,599</FONT></P></TD></TR>

<TR style="HEIGHT: 11.4pt">

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Direct operating expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>348,896</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>286,255</FONT></P></TD></TR>

<TR style="HEIGHT: 11.4pt">

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Development expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,910</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>563</FONT></P></TD></TR>

<TR style="HEIGHT: 11.4pt">

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>383,585</FONT></P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>316,767</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Borrowing costs incurred during the three-month period ended September 30, 2014 of Ps. 2,034, were capitalized at the rate of the Company&#8217;s general borrowings, which amounts to 15%. Those costs correspond to Alto Comahue. Capitalization of financial costs has ceased since the completion of the shopping mall, therefore, financial costs have not been capitalized as of September 30, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Arcos del Gourmet</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Injunction order:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In December 2013, the Judicial Branch confirmed an injunction order that suspended the opening of the shopping center on the grounds that it did not have certain governmental permits in the context of two legal proceedings, where a final decision has been rendered for the company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The plaintiff filed a petition for the continuation of the preliminary injunction by means of an extraordinary appeal of unconstitutionality which was by the lower and appellate courts; consequently, it filed an appeal with the Supreme Court of Justice of the Autonomous City of Buenos Aires, which so far has not rendered a decision.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Nowadays, the Shopping Center Distrito Arcos is open to the public and operating normally.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Concession Status:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The National State issued Executive Order 1723/2012 whereby several plots of land located in prior rail yards of Palermo, Liniers and Caballito rail stations ceased to be used for rail purposes, in order to be used for development of integral urbanization projects.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>43</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>10.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Investment properties </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In this respect and as part of several measures related to other licensed persons and/or concessionaires, we have notified in the file of proceedings of the corresponding Resolution 170/2014 revoking the Contract for Reformulation of the Concession of Rights of use and Development N&#176; AF000261 issued by the Agencia de Administraci&#243;n de Bienes del Estado (State Assets Administration Office, or AABE as per its Spanish acronym).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>It should further be pointed out that such measure:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -13.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>has not been adopted due to non-compliance of our controlled company;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -13.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>to the date has not involved the interruption of the commercial development or operation of the shopping center, which continues to operate under normal conditions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Notwithstanding the foregoing, Arcos del Gourmet S.A. has filed the relevant administrative remedies (appeal) and has also filed a judicial action requesting that the revocation of such concession be overruled.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Furthermore, it has started a so-called &#8220;juicio de consignaci&#243;n&#8221;, that is an action where the plaintiff deposits with the court sums of money that the defendant refuses to accept. Under this legal action, the company has deposited in due time and form all rental payments under the Contract for Reformulation of the Concession of Rights of Use and Development, which the Company considers to have been unduly revoked.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>44</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>11.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Property, plant and equipment</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Changes in the Group&#8217;s property, plant and equipment for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 22.75pt">

   <TD style="HEIGHT: 22.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Owner occupied farmland</FONT></B></P></TD>

   <TD style="HEIGHT: 22.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Hotel buildings and facilities</FONT></B></P></TD>

   <TD style="HEIGHT: 22.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Other buildings and facilities</FONT></B></P></TD>

   <TD style="HEIGHT: 22.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Furniture and fixtures</FONT></B></P></TD>

   <TD style="HEIGHT: 22.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Machinery </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>and equipment</FONT></B></P></TD>

   <TD style="HEIGHT: 22.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Vehicles</FONT></B></P></TD>

   <TD style="HEIGHT: 22.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Year ended June 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,057,194</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>175,745</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>66,744</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>10,838</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>65,185</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>6,250</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,381,956</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(223,146)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(6,364)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(449)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(7,082)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>80</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(236,961)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>153,336</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>14,737</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>14,892</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,442</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>28,980</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>7,572</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>222,959</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Reclassifications of investment properties </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>11,732</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>8,305</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>3,618</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>5,301</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>28,956</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Reclassifications to investment properties </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(50,341)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(10,404)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(60,745)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(255,345)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3,508)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(2,125)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(775)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(2,779)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(407)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(264,939)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Depreciation charge (i)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(53,606)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(15,097)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3,751)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(2,220)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(16,596)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(2,761)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(94,031)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,639,824</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>171,877</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>67,297</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>14,454</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>73,009</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>10,734</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,977,195</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>At June 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,832,645</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>414,310</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>146,297</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>30,753</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>213,231</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>19,563</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,656,799</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(192,821)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(242,433)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(79,000)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(16,299)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(140,222)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(8,829)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(679,604)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Net book amount</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,639,824</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>171,877</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>67,297</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>14,454</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>73,009</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>10,734</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,977,195</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Period ended September 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,639,824</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>171,877</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>67,297</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>14,454</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>73,009</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>10,734</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,977,195</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(139,102)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(1,231)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(264)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(4,327)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>335</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(144,589)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>10,689</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,456</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>92</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>556</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>6,537</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>20,330</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Reclassifications to investment properties </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>238</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(4,317)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(4,079)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(47)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(8)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(31)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(110)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(196)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Depreciation charge (i)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(10,817)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3,636)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(959)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(611)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(5,027)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(796)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(21,846)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,500,785</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>170,697</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>60,874</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>14,135</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>70,161</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>10,163</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,826,815</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>As of September 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,911,187</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>414,755</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>131,968</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>29,681</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>188,446</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>19,623</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2,695,660</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(410,402)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(244,058)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(71,094)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(15,546)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(118,285)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(9,460)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(868,845)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Net book amount</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,500,785</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>170,697</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>60,874</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>14,135</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>70,161</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>10,163</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1,826,815</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 22pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>For the three-month period ended as of September 30, 2015, the depreciation charges of property, plant and equipment were included as follows: Ps. 1,681 under the line item &#8220;General and administrative expenses&#8221;, Ps. 152 under the line item &#8220;Selling expenses&#8221; and Ps. 21,264 under the line item &#8220;Cost&#8221; in the income statements. For the fiscal year ended June 30, 2015, depreciation charges were included under the line item &#8220;Costs&#8221; for an amount of Ps. 87,139, "General and administrative expenses" for an amount of Ps. 5,663 and &#8220;Selling expenses&#8221; for an amount of Ps. 1,229, in the income statements.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>45</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader49"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.75in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.75in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>12.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Trading properties</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Changes in the Group&#8217;s trading property for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 22.05pt">

   <TD style="HEIGHT: 22.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="49%">

   <P style="MARGIN: 0in 0pt 0pt 28.35pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Completed properties</FONT></B></P></TD>

   <TD style="HEIGHT: 22.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Properties under development</FONT></B></P></TD>

   <TD style="HEIGHT: 22.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Undeveloped sites</FONT></B></P></TD>

   <TD style="HEIGHT: 22.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 22.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>At June 30, 2014</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,731</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>119,188</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,232</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>137,151</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,066</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,066</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Currency translation adjustments</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,124)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,124)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Reclassifications investment properties</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,107</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,107</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,246)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,246)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="HEIGHT: 2.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>At June 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 2.4pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,485</FONT></B></P></TD>

   <TD style="HEIGHT: 2.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.4pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>114,130</FONT></B></P></TD>

   <TD style="HEIGHT: 2.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.4pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,339</FONT></B></P></TD>

   <TD style="HEIGHT: 2.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.4pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>132,954</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.65pt">

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103</FONT></P></TD>

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Currency translation adjustments</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,945)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,945)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,400)</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,400)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>At September 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,085</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>110,288</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,339</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>127,712</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>46</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_50"></A>

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<a name="_bclHeader50"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>13.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Intangible assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Changes in the Group&#8217;s intangible assets for the three-month period ended as of September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="41%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Goodwill</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Computer software</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rights of use</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Units to be </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>received (ii)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Others</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Year ended June 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>29,977</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,760</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>39,187</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>85,077</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>11,006</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>175,007</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(2,022)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,565)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(3,587)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>6,391</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>5,409</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>11,800</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(343)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(119)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(462)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Amortization charge (i)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(4,625)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,224)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,146)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(6,995)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27,612</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,842</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>37,963</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,486</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,860</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>175,763</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>At June 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27,612</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>41,387</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>40,692</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,486</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>11,862</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>212,039</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(31,545)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(2,729)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(2,002)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(36,276)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Net book amount </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27,612</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,842</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>37,963</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,486</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,860</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>175,763</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Period ended September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27,612</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,842</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>37,963</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,486</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,860</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>175,763</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Currency translation adjustments</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,479)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,086)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(2,565)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1,172</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1,172</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Disposals </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,233)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,233)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Amortization charge (i)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(635)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(423)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(549)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1,607)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>26,133</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>8,060</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>37,540</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,486</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,311</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>171,530</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>At September 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>26,133</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27,512</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>40,692</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,486</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>11,861</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>196,684</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Accumulated amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(19,452)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(3,152)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(2,550)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(25,154)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Net book amount </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>26,133</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>8,060</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>37,540</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,486</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,311</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>171,530</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt; TEXT-INDENT: 0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 15pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Amortization charges are included in &#8220;General and administrative expenses&#8221; in the Income statements. (Note 30). There is no impairment charges for any of the periods presented.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 15pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Correspond to receivables in kind representing the right to receive residential apartments in the future by way of barter agreements.</FONT></P>

<a name="_bclFooter50"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>47</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><FONT face=Arial></FONT>

&nbsp; <A name="page_51"></A>

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<a name="_bclHeader51"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 56.7pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 56.7pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>14.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Biological assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Changes in the Group&#8217;s biological assets for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 17.8pt">

   <TD style="HEIGHT: 17.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="60%">

   <P style="MARGIN: 0in 0pt 0pt 28.35pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 17.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17.8pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Beginning of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>578,877</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>640,683</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>838</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,970</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>193,724</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,235,377</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Decrease due to harvest</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(178,747)</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,157,598)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Decrease due to sales</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(49,181)</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(128,164)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Addition from lease agreement</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,474</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Consume</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(569)</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,838)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,488)</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(47,027)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>530,454</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>578,877</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Biological assets as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 22.65pt">

   <TD style="HEIGHT: 22.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Classification</FONT></B></P></TD>

   <TD style="HEIGHT: 22.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 22.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 22.65pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cattle for dairy production </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>39,024</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>40,478</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Breeding cattle</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>306,482</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>293,709</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Sugarcane fields </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>59,822</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>113,122</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Other cattle</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>6,130</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>6,175</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Others biological assets</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,187</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,395</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Non-current biological assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>416,645</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>458,879</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cattle for dairy production </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>6</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>77</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cattle for sale </FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>34,435</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>64,845</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Crops fields</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>78,274</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>53,828</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Other cattle</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,094</FONT></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,248</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Current biological assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>113,809</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>119,998</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total biological assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>530,454</FONT></B></P></TD>

   <TD style="HEIGHT: 11.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.9pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>578,877</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The fair value less estimated point of sale costs of agricultural produce at the point of harvest amount to Ps. 193,008 and Ps. 1,218,242 for the period ended September 30, 2015 and for the year ended June 30, 2015, respectively.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>48</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader52"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 56.7pt; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 56.7pt; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>14.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Biological assets</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The following tables present the Group&#8217;s biological assets measured at fair value as of September 30, 2015 and June 30, 2015 and their allocation to the fair value hierarchy:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="67%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cattle for dairy production </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>39,030</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>39,030</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Breeding cattle and cattle for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>340,917</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>340,917</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Sugarcane fields </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>59,822</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>59,822</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Other cattle</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,224</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,224</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Others biological assets</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,187</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt; TEXT-INDENT: -6.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,187</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Crops fields </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>72,582</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt; TEXT-INDENT: -6.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,692</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>78,274</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="33%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>77,769</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>387,171</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>65,514</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>530,454</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="67%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>June 30, 2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cattle for dairy production </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>40,555</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>40,555</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Breeding cattle and cattle for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>358,554</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>358,554</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Sugarcane fields </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>113,122</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>113,122</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Other cattle</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,423</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,423</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Others biological assets</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,395</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt; TEXT-INDENT: -6.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,395</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 2.85pt 0pt 0pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Crops fields </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>13,477</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt; TEXT-INDENT: -6.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>40,351</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>53,828</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="33%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 11pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>18,872</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>406,532</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>153,473</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>578,877</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Biological assets that has no significant growth, valued at cost, since it is considered that this value is similar to fair value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The following table presents the changes in Level 3 instruments for the three-month period ended September 30, 2015 and the year ended June 30, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Crops fields with significant biological growth</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Sugarcane</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>At June 30, 2014</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>136,620</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>142,873</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>462,116</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>162,352</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Harvest</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(557,591)</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(198,026)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Addition from lease agreement</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>22,474</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(794)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(16,551)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>At June 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>40,351</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>113,122</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>30,605</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>65,826</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Harvest</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(66,911)</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(106,360)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,647</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10.5pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(12,766)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="HEIGHT: 2.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 10.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>At September 30, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 2.4pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,692</FONT></B></P></TD>

   <TD style="HEIGHT: 2.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 10.5pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>49</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.25in; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>14.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Biological assets</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>When no quoted prices in an active market are available, values are based on recognized valuation methods. The company uses a range of valuation models for the measurement of Level 2 and Level 3 biological assets. The following table presents models and main parameters:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 2</FONT></U></B></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Pricing model</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Parameters</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 11pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face=arial,sans-serif>Cattle</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Comparable market</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Price per livestock head/kg and per category</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 3</FONT></U></B></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Yields &#8211; Operating cost &#8211;Selling expenses &#8211; Future of sale prices </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Argentina: </FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Yields: 2 - 7.8 tn/ha</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Future sale prices: 1,081 - 1,109 Ps./tn </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Selling expenses: 448 - 699 Ps./tn</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Operating cost: 1,069 - 2,015 Ps./ha</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Bolivia:</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Yields: 2.27 - 5 tn/ha</FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Future of sale prices: 135 - 302 US$/tn </FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Selling expenses: 24.3 US$/tn</FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Operating cost: 135 &#8211; 137 US$/tn</FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="17%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face=arial,sans-serif>Sugarcane</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Discounted cash flows</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Yields &#8211; Operating cost &#8211;Selling expenses &#8211; Future of sale prices </FONT></P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Discount rate</FONT></P></TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Brazil:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Yields: 80.74 tn/ha</FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Future of sale prices: 71.31 Rs./tn</FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=#000000 face=arial,sans-serif>Operating cost: 57.37 Rs./tn</FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Bolivia:</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Yields: 56 - 115 tn/ha</FONT></P></TD></TR>

<TR style="HEIGHT: 3.7pt">

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%">&nbsp;</TD>

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   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Future of sale prices: 23.03 &#8211; 19.76 US$/tn</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Selling expenses: 4.5 US$/tn</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Operating cost: 275 &#8211; 500 US$/tn</FONT></P></TD></TR>

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   <TD style="HEIGHT: 3.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=black face=arial,sans-serif>Discount rate: 11.47%</FONT></P></TD></TR></TABLE></DIV></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>During the three-month period ended September 30, 2015 and the year ended June 30, 2015 there have been no transfers between the several tiers used in estimating the fair value of the Group&#8217;s biological assets, or reclassifications among their respective categories.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>50</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader54"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 56.7pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 56.7pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>14.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Biological assets</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>See information on valuation processes used by the entity and on the sensitivity of fair value valuation to changes in material non-observable input data in Note 5.c. to the consolidated financial statements as of June 30, 2015 and 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>As of September 30, 2015 and June 30, 2015, the better and maximum use of biological assets shall not significantly differ from the current use.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 56.7pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>15.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Inventories</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 21.3pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Breakdown of Group&#8217;s inventories as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10pt">

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="61%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10pt">

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="61%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Crops</FONT></P></TD>

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>185,872</FONT></P></TD>

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>269,861</FONT></P></TD></TR>

<TR style="HEIGHT: 10pt">

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="61%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Materials and inputs</FONT></P></TD>

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>197,307</FONT></P></TD>

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>154,492</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="61%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Seeds and fodders</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>58,476</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>60,839</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="61%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Hotel supplies</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,011</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>6,926</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" width="61%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Beef</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>18,736</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>19,232</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="61%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>103</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 2.25pt">

   <TD style="HEIGHT: 2.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total inventories</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 2.25pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>467,505</FONT></B></P></TD>

   <TD style="HEIGHT: 2.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 2.25pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>511,350</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 21.3pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>As of September 30, 2015 and June 30, 2015 the cost of inventories recognized as expense amounted to Ps. 214,625 and Ps. 950,354, respectively and they have been included in &#8220;Costs&#8221; in the income statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 21.3pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial instruments by category</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Determining fair values</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in; LINE-HEIGHT: 13pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>IFRS 9 defines the fair value of a financial instrument as the amount for which an asset could be exchanged, or a financial liability settled, between knowledgeable, willing parties in an arm&#8217;s length transaction. All financial instruments recognized at fair value are allocated to one of the valuation hierarchy levels of IFRS 7. This valuation hierarchy provides for three levels. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT size=2 face=Arial></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT size=2 face=Arial></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>51</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial instruments by category </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In the case of Level 1, valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can refer to at the date of valuation. A market is deemed active if transactions of assets or liabilities take place with sufficient frequency and in sufficient quantity. Since a quoted price in an active market is the most reliable indicator of fair value, this should always be used if available. The financial instruments the Group has allocated to this level mainly comprise equity investments, mutual funds, derivatives, securities and convertibles notes for which quoted prices in active markets are available. In the case of shares, the Group allocates them to this level when either a stock market price is available or prices are provided by a price quotation on the basis of actual market transactions. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In the case of Level 2, fair value is determined by using valuation methods based on inputs directly or indirectly observable in the market. If the financial instrument concerned has a fixed contract period, the inputs for valuation must be observable for the whole of this period. The financial instruments the Group has allocated to this level mainly comprise interest rate swaps and foreign currency future contracts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In the case of Level 3, the Group uses valuation techniques not based on inputs observable in the market. This is only permissible insofar as that information is not available. The inputs used reflect the Group&#8217;s assumptions regarding the factors which any market player would consider in their pricing. The Group uses the best available information for this, including internal company data. The Group has allocated to this level preferred shares and warrants of Condor, commitment to tender offer of shares in IDBD, the investment in the associate IDBD and other borrowings. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The Group&#8217;s Finance Division has a team in place in charge of estimating valuation of financial assets required to be reported in the financial statements, including the fair value of Level 3 instruments. The team directly reports to the Chief Financial Officer ("CFO").</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The CFO and the valuation team discuss the valuation methods and results upon the acquisition of an asset and, if necessary, on a quarterly basis, in line with the Group&#8217;s quarterly reports. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>According to the Group&#8217;s policy, transfers among the several categories of valuation tiers are recognized when occurred, or when there are changes in the prevailing circumstances requiring the transfer.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>52</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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&nbsp; <A name="page_56"></A>

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<a name="_bclHeader56"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial instruments by category </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>As described in Note 3 to the Annual Consolidated Financial Statements as of June 30, 2015, the Group has priced its investment in IDBD at market value using the exception provided in IAS 28 (see Note 2 for further details). The investment in IDBD consists of 324 million of common stocks representing 49% of IDBD&#8217;s share capital, and 248 million warrants to purchase common stocks.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Until June 30, 2015 the Group considered that the listing value of IDBD&#8217;s share in the Tel Aviv Stock Exchange was representative of the market value of its investment and, therefore, priced its holdings in accordance with such value, and categorized it as Level 1.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>As mentioned in Note 9 to these Financial Consolidated Statements, as part of the&nbsp;Arrangement,&nbsp;Dolphin </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>promised to make one or more Tender Offers</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>for the purchase of IDBD&#8217;s shares at a fixed price for a total amount of NIS&nbsp;512.09 million</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>On October 20, 2015, a first instance judge of the Tel Aviv-Jaffo Court approved a petition made by the representatives of the Creditors subject to the Arrangement and resolved that the shares held by Dolphin or any company controlled by Eduardo S. Elsztain could not be offered in the Tender Offers committed for December 2015 and December 2016. Dolphin decided to challenge the ruling by filing an appeal with Israel&#8217;s Supreme Court of Justice. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Even though IDBD&#8217;s capital is composed of only one class of common shares holding the same rights, the cited ruling could be construed as creating &#8220;de facto&#8221; two classes of stocks with different rights, one that may be included in the Tender Offers and another class &#8211; which belongs to any company controlled by Eduardo S. Elsztain &#8211; which may not. This would imply that the stock&#8217;s listed price (which has an embedded value component for the commitment of future Tender Offers) is not representative as such for pricing Dolphin&#8217;s holding of stocks.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>According to the Company&#8217;s policy, transfers to and from different levels of category of market value of IFRS 13 as of the date of the event or change in the circumstances that lead to the transfer. Based on the above described circumstances, the Company believes that it should cease to consider the listed price (Level 1 valuation) and make use of a valuation model with unobservable variables (Level 3 valuation) to estimate the market value of its investment in IDBD.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>To that end, the Company has developed an in-house pricing model based on a Black-Scholes model, which fixes the Tender Offer component value embedded in the share&#8217;s listed price, and subtracts it to determine a market value for the investment. Furthermore, the model weights occurrence probabilities for different scenarios. The pricing of its investment in IDBD has been categorized as Level 3 because it uses significant unobservable variables, including, but not limited to, probability, interest rate and volatility, to determine the market value.&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>53</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial instruments by category </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Based upon its legal advisors&#8217; opinion, Dolphin believes it has chances to revert the first instance ruling at the Supreme Court of Justice. Dolphin has assigned equal probabilities of success or failure in the appeal. Should Dolphin fails in the appeal, the company believes the Supreme Court&#8217;s ruling could open up a range of possibilities as to the amounts that stocks could be offered in the Tender Offers.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Thus, the pricing model used to determine the investment market value considers the following scenarios:</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Scenario 1:</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The company has a 50% chance of a favorable outcome in the appeal filed with the Supreme Court of Justice and, therefore, all the shares held by Dolphin and any other company controlled by Eduardo S. Elsztain can be included in the Tender Offers. This implies a status quo with regard to the pricing methodology as of June 30, 2015 and, hence, the listing value of IDBD&#8217;s stocks would only be affected for the pricing of the Company&#8217;s holding regarding the valuation difference between June 30, 2015 and September 30, 2015.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Scenario 2:</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The company has a 50% chance of an unfavorable ruling by the Supreme Court of Justice. This scenario is in turn divided into secondary scenarios in accordance with the amounts of the stocks held by Dolphin or other companies controlled by Eduardo S. Elsztain, which could be included in the Tender Offers. The ruling could prohibit all of the stocks in the hands of Dolphin or any other company controlled by Eduardo S. Elsztain from being included in the Tender Offers or and could set different amounts of eligible shares to be part in the Tender Offer. Therefore, the Company has assigned different probabilities of occurrence to the secondary scenarios under scenario 2, according to the number of IDBD shares in its hands that could be included in the Tender Offers.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The relevant variables used in calculating the market value of the investment in IDBD are as follows:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Rate in NIS</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>8.09&nbsp;%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>IDBD Spot Price</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>NIS 2.16</FONT></P></TD></TR>

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   <TD style="HEIGHT: 8.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="77%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Exchange rate US$ NIS</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>3.92</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Exchange rate US$ Ps</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>9.42</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Stock volatility</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>70.6&nbsp;%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Risk free rate in ILS as of 12/31/2015</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>0.02&nbsp;%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Risk free rate in ILS as of 12/31/2016</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 0in; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>0.10&nbsp;%</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>54</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial instruments by category </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The probability scenarios of secondary scenario 2 are sensitive to the amount of the stocks that may be included in the Tender Offers and, therefore, influence on the calculation of the stock&#8217;s market value.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The warrants for purchasing IDBD&#8217;s common shares have been priced at their listing value upon considering it representative of their market value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The following tables present the Group&#8217;s financial assets and financial liabilities that are measured at fair value as of September 30, 2015 and June 30, 2015 and their allocation to the fair value hierarchy:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Financial assets at fair value through profit or loss:</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Investment in equity securities in TGLT</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>73,580</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>73,580</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Investment in equity securities in Avenida Inc. S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>106,118</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>106,118</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Other equity securities in public shares</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>15,859</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>15,859</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Corporate bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,827</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,827</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Government bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>293,397</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>293,397</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Mutual funds</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>690,274</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>690,274</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Shares of Condor Hospitality Trust Inc. </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>225,616</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>225,616</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Derivative financial instruments:</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Crops futures</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,955</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,955</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Commodities options</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,402</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,402</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Warrants of IDBD</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>358,485</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>358,485</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Warrants of DISI </FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,107</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,107</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>156,066</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>156,066</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Investment in associates:</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- IDBD</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,016,664</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,016,664</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,707,070</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,242,280</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,949,350</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments:</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Commitment to tender offer shares in IDBD</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>499,779</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>499,779</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Foreign-currency contracts</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>15,459</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>4,140</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>19,599</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Crops futures</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,255</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>5,255</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Commodities options</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>617</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>617</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Borrowings:</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Other borrowings</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>16,939</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>16,939</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total Liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>21,331</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>4,140</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>516,718</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>542,189</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>55</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 7.1pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial instruments by category </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>June 30, 2015</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Assets</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Financial assets at fair value through profit or loss:</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Investment in equity securities in TGLT</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>71,573</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>71,573</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Investment in equity securities in Avenida Inc. S.A. </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>102,316</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>102,316</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Corporate bonds</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,789</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,789</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Government bonds</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>101,649</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>101,649</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Mutual funds</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>383,572</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>383,572</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Other equity securities in public companies</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>16,742</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>16,742</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Investment in equity securities of Condor Hospitality Trust Inc. (formerly Supertel Hospitality Inc. due to change of corporate name)</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>348,854</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>348,854</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments:</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0in 0pt 8.8pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -8.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Warrants of Condor Hospitality Trust Inc. (formerly Supertel Hospitality Inc. due to change of corporate name)</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,151</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>7,151</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Crops futures</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>396</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>396</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Commodities options</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,195</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,195</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- IDBD Warrants</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>228,414</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>228,414</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Investment in associates:</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- IDBD</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,528,687</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>1,528,687</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>112,340</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>112,340</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total Assets </FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,548,673</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>356,005</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>2,904,678</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.25pt">

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Derivative financial instruments:</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Foreign-currency contracts</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>10,065</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>10,065</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Crops futures</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>11,477</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>11,477</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Commodities options</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>8,500</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>8,500</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Commitment to tender offer shares in IDBD</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>500,580</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>500,580</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>- Other borrowings</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>25,945</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>25,945</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=top width="38%">

   <P style="MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total Liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>19,977</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>36,010</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>500,580</FONT></B></P></TD>

   <TD style="HEIGHT: 2.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 2.75pt; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>556,567</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>56</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader60"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>16.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial instruments by category </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following table presents the changes in Level 3 instruments for the three-month period ended September 30, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 53.85pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" width="32%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Warrants of Condor Hospitality Trust Inc.</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Shares</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>of Condor Hospitality Trust Inc.</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Shares of IDBD</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other borrowings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commitment to tender offer shares in IDBD</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Total at June 30, 2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="BACKGROUND: none transparent scroll repeat 0% 0%; COLOR: #000000; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>211,170</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(320,847)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(109,677)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(45,151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(45,151)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total gain and losses for the year</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,151</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>137,684</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(134,582)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,253</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Balance at June 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,151</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>348,854</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(500,580)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(144,575)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Transfer to level 3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,528,687</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(25,945)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,502,742</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>45,900</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(773)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(18,049)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>27,078</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total gain and losses for the period (i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(7,151)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(123,238)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(557,923)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,779</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>18,850</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(659,683)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="32%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Balance at September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>225,616</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,016,664</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(16,939)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(499,779)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>725,562</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 7pt; MARGIN: 0in 0pt 0pt 53.85pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 14.2pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>The gain / (loss) is not realized as of September 30, 2015 and is accounted for under &#8220;Other financial results&#8221; in the income statements (Note 33).</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 14.2pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Upon initial recognition (January 2012), the consideration paid for the Shares and Warrants of Condor Hospitality Trust Inc. was assigned to both instruments based on the relative fair values of those instruments upon acquisition. The fair value of these instruments exceeded the transaction price and were determined using a valuation technique that uses inputs not observable in the market. As a result of the use of this technique, the Group has not recognized a gain at the time of initial recognition in the amount of US$ 7.9 million. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>According to Group estimates, all factors being constant, a 10% decline in the price of the underlying assets of Level 3 Shares and Warrants of Condor Hospitality Trust Inc. (data observed in the market) as of September 30, 2015, would reduce pre-tax income by Ps. 26.19 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>According to Group estimates, all factors being constant, a 10% decrease in the credit spread (data which is not observable in the market) of shares and warrants of Condor Hospitality Trust Inc. used in the valuation model applied to Level 3 financial instruments as of September 30, 2015, would increase pre-tax income by Ps. 1.25 million. The rate used as of September 30, 2015 was 14.42%.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>57</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>16.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial instruments by category </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>When no quoted prices in an active market are available, fair values (particularly with derivatives) are based on recognized valuation methods. The Company uses a range of valuation models for the measurement of Level 2 and Level 3 instruments, details of which may be obtained from the following table:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 8.5pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.7pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Pricing model</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Pricing method</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Parameters</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Range</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Derivative on tender offer of IDBD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Black-Scholes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Theoretical price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Underlying asset price; share price volatility (historical) and interest-rate curve (NIS rate curve).</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Underlying asset price</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1.75 to 2.55</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share price volatility</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>60% to 80%</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Market interest-rate </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0.02% to 0.9%</FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Warrants of Condor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Black-Scholes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Theoretical price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; TEXT-INDENT: 5.3pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Underlying asset price (market price) and share price volatility (historical) and market interest rate (Libor curve).</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Underlying asset price</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1.35 to 1.7</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share price volatility</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>55% to 75%</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Money market interest-rate </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0.5% to 0.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Interest-rate swaps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cash flows</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Theoretical price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Interest rate futures and flows of funds.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Preferred shares of Condor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Binomial tree</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Theoretical price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Underlying asset price (market price) and share price volatility (historical) and market interest rate (Libor curve).</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Underlying asset price</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1.35 to 1.7</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share price volatility</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>55% to 75%</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Market interest-rate </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0.5% to 0.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Call option for the shares of Arcos</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Discounted cash flows</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Projected income and discount rate.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Foreign-currency contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Present value method</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Theoretical price </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Money market curve, interest curve, foreign exchange curve</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>17.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Restricted assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The table below shows the Group's restricted assets as of September 30, 2015 and June 30, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=top width="61%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Mutual funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,621</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,301</FONT></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,621</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,301</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Guarantee deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>119,238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>607,021</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>119,238</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>607,021</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total restricted assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>122,859</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>611,322</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>

<a name="_bclFooter61"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>58</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_62"></A>

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<a name="_bclHeader62"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The table below shows trade and other receivables of the Group as of September 30, 2015 and June 30, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Leases and services receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>85,622</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,080</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Receivables from sale of agricultural products and farmlands leases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>903</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,154</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Property sales receivable (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>71,389</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>104,064</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Less: allowance for doubtful accounts</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,208)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,208)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current trade receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>155,706</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>165,090</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade receivables from disposal of joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,729</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,595</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Prepayments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,329</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,274</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>VAT receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>29,671</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26,745</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other tax receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>66,882</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>73,131</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Guarantee deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,027</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Advances for shares purchases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,585</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,134</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,652</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,060</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>141,181</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>145,966</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Related parties (Note 35) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>122,730</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>115,721</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current trade and other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>419,617</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>426,777</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Consumer financing receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,584</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,620</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Leases and services receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>371,787</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>356,217</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Receivables from sale of agricultural products and farmlands leases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>203,576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>253,355</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Receivables from hotel operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,544</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,144</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred checks received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>252,699</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>247,030</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Debtors under legal proceedings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>79,984</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>71,343</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Property sales receivable (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>98,527</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>88,032</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Less: allowance for doubtful accounts</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(122,153)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(117,514)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade receivables current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>931,548</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>934,227</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Advance payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,190</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Prepayments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>143,927</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>144,982</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>VAT receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>54,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>51,593</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross sales tax credit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,095</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,594</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other tax receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>34,268</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>36,316</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,270</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>22,977</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Expenses and services to recover</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,953</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,125</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Suppliers advances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>88,056</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>105,105</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Guarantee deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>114,196</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>39,154</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>37,956</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>37,505</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Less: allowance for doubtful accounts</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(185)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(185)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>501,360</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>447,166</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Related parties (Note 35)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>417,964</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>390,980</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current trade and other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,850,872</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,772,373</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total trade and other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,270,489</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,199,150</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 21.25pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 8pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Property sales receivables primarily comprise trading properties, investment properties and farmlands.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>59</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 56.7pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade and other receivables </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The fair value of current trade and other receivables approximate their respective carrying amounts due to their short-term nature, as the impact of discounting is not considered significant. Fair values are based on discounted cash flows (Level 2 of fair value hierarchy).</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The evolution of the Group&#8217;s provision for impairment of trade receivables were as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the period / year</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>119,907</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>90,491</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Creation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,518</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>45,968</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Recovery</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,692)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(16,800)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Used during the period / year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(26)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,924)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,161)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,172</FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>124,546</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>119,907</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The creation and release of allowance for doubtful account have been included in &#8220;Selling expenses&#8221; in the income statements (Note 30). Amounts charged to the provision account are generally written off when there is no expectation of recovering additional cash. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>19.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Group&#8217;s investment in financial assets as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Financial assets at fair value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment in equity securities in TGLT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>73,580</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>71,573</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investments in equity securities in Avenida Inc. S.A. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>106,118</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>102,316</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment in equity securities in Condor Hospitality Trust Inc. (formerly Supertel Hospitality Inc. due to change of corporate name)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>225,616</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>348,854</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-convertible notes related parties (Note 35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>100,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>100,000</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other investment in equity securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>102</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Investment in financial assets non-current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>505,416</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>622,845</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Financial assets at fair value </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Mutual funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>690,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>383,572</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-convertible notes related parties (Note 35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,671</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>452</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other investment in equity securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,757</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>16,640</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Corporate bonds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,827</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,789</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Government bonds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>293,397</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>101,649</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Investment in financial assets current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,006,926</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>504,102</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Investment in financial assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,512,342</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,126,947</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>60</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_64"></A>

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<a name="_bclHeader64"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>20.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Group&#8217;s derivative financial instruments as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commodities options</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,195</FONT></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Warrants IDBD (Note 4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>322,704</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>199,256</FONT></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Warrants DISI</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>933</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Warrant Condor Hospitality Trust Inc.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,151</FONT></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>323,637</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>207,602</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops futures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>396</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commodities options</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,402</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commodities futures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,955</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Warrants DISI</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>174</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Warrants IDBD (Note 4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>35,781</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>29,158</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>46,312</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>29,554</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>369,949</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>237,156</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commodities options</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,863</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Foreign-currency contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,030</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commitment to tender offer shares in IDBD (Note 4)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>264,098</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>263,969</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>264,098</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>268,862</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commodities options</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>617</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,637</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commodities futures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,477</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Foreign-currency contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>19,599</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,035</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Commitment to tender offer shares in IDBD (Note 4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>235,681</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>236,611</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>261,152</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>261,760</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>525,250</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>530,622</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 63.8pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter64"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>61</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_65"></A>

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<a name="_bclHeader65"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>21.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cash flow information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following table shows the amounts of cash and cash equivalents as of September 30, 2015 and June 30, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cash at bank and on hand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>753,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: -1.7pt; MARGIN: 0in 0in 0pt 1.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>437,337</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Short-term bank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>124,107</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: -1.7pt; MARGIN: 0in 0in 0pt 1.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>84,016</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Financial trust</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: -1.7pt; MARGIN: 0in 0in 0pt 1.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Mutual funds </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>156,066</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: -1.7pt; MARGIN: 0in 0in 0pt 1.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>112,340</FONT></P></TD></TR>

<TR style="HEIGHT: 2.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total cash and cash equivalents</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,033,415</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: -1.7pt; MARGIN: 0in 0in 0pt 1.7pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>633,693</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Following is a detailed description of cash flows generated by the Group&#8217;s operations for the three-month periods ended as of September 30, 2015 and 2014. </FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 13.4pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Note</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 7.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.85pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(Loss) Gain for the period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.85pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(361,760)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>21,665</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><I><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Adjustments for</FONT></I><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 6.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>89,007</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>131,082</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Depreciation and amortization </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>70,506</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>63,265</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain from disposal of investment property</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(383,585)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(316,767)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain (Loss) on the revaluation of receivables arising from the sale of farmland</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(14,260)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>7,326</FONT></P></TD></TR>

<TR style="HEIGHT: 5.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Gain from disposal of property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,841</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>577</FONT></P></TD></TR>

<TR style="HEIGHT: 5.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Release of investment property and property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,496</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(4,370)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(4,195)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Equity settled compensation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9,423</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>15,464</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unrealized Gain (Loss) on derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(123,045)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>58,343</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in fair value of financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>234,482</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(149,400)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Interest expense, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>223,666</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>212,100</FONT></P></TD></TR>

<TR style="HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unrealized initial recognition and changes in fair value of biological assets and agricultural produce at the point of harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(106,863)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(104,578)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>8,933</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>22,021</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Provisions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>50,319</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,307</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>496,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>102,728</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unrealized foreign exchange loss, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>182,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>161,875</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Loss from disposal of subsidiaries and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(8,758)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Result from purchase of joint venture </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Loss from repurchase of Non-convertible Notes </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>297</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in operating assets and liabilities:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease in biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>135,709</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN-TOP: 0in; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>190,723</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease (Increase) in inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>25,350</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(55,218)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease in trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,297</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>977</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(Increase) Decrease in trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(29,091)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>49,089</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease (Increase) in derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(85,095)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>16,649</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>104,947</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>7,185</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease in payroll and social security liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(120,635)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(77,821)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase (Decrease) in provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,639</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(3,897)</FONT></P></TD></TR>

<TR style="HEIGHT: 8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8pt; PADDING-TOP: 0in" vAlign=bottom width="40%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net cash generated from operating activities before income tax paid</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>412,260</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>381,238</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>62</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_66"></A>

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<a name="_bclHeader66"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>21.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cash flow information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 42.55pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following table shows a detail of non-cash transactions occurred for the three-month periods ended as of September 30, 2015 and 2014:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase of investment in associates and joint ventures through an increase in trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease in investment in associates and joint venture through an increase in trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>111,181</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease in borrowings trough a decrease in investment in associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,154</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in property, plant and equipment through an increase in trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>343</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends not collected</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,960)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,199)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in property, plant and equipment through an increase in borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,026</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>458</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in trade and other receivables through a decrease in property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>485</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Stock plan granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,938)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in investments in financial assets through a decrease in property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>48,217</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="58%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in restricted assets through an increase in borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,742</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>63</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_67"></A>

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<a name="_bclHeader67"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>22.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade and other payables</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Group&#8217;s trade and other payables as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.8pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.8pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Admission rights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>154,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>146,036</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Sales, rent and services payments received in advance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,061</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>63,986</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Guarantee deposits</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,608</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,236</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current trade payables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>220,081</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>216,258</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other tax payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,404</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,296</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,420</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; personal tax payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>865</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax amnesty plan for payable taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>22,594</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24,268</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,977</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,793</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>45,388</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>47,750</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Related parties (Note 35)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,322</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>46</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current trade and other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>269,791</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>264,054</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>288,294</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>301,719</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Accrued invoices</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>246,144</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>222,831</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Admission rights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>149,118</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>142,709</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Sales, rent and services payments received in advance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>249,292</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>226,237</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Guarantee deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,427</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,302</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current trade payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>950,275</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>907,798</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Withholdings tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,895</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,048</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>VAT payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>59,696</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>43,953</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross sales tax payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,053</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,004</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other tax payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>63,257</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>110,257</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred incomes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,611</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24,366</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Dividends payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>63,367</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>123,888</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax amnesty plan for payable taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>280</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; personal tax payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,970</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,666</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,956</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,174</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>251,123</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>345,636</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Related parties (Note 35)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>91,436</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>53,401</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current trade and other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,292,834</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,306,835</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total trade and other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,562,625</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,570,889</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The fair values of current trade and other payables approximate their respective carrying amounts due to their short-term nature, as the impact of discounting is considered as not significant. Fair values are based on discounted cash flows (Level 2 of fair value hierarchy).</FONT></P>

<a name="_bclFooter67"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>64</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader68"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 56.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>23.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Group&#8217;s Salaries and social security liabilities as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Provision for vacations and bonuses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,653</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,594</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Social security payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,306</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,323</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,415</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,622</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current payroll and social security liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,374</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,539</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Provision for vacation and bonuses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>114,394</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>184,316</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Social security payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>43,250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>38,619</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Salaries payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,334</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,066</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>58</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>852</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,697</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,547</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current payroll and social security liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>160,733</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>230,400</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total payroll and social security liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>166,107</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>235,939</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>24.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The table below shows the movements in the Group's provisions for other liabilities categorized by type of provision:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 38.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Labor </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>and legal claims </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax and social security</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investments in associates and joint ventures (i) </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 38.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At June 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>77,510</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,478</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>362,931</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>441,919</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>7,806</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>164</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>40,539</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>48,509</FONT></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Used during period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(3,481)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(18,304)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(21,785)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(13,828)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(13,828)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(2,064)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>13,150</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>11,086</FONT></P></TD></TR>

<TR style="HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>79,771</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,642</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>384,488</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>465,901</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Corresponds to equity interests in associates with negative equity, mainly New Lipstick LLC. Additions and recoveries are included in "Share of profit / (loss) of associates and joint ventures".</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 8pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The analysis of total provisions is as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="63%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="63%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>410,483</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>386,948</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="63%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,418</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>54,971</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="63%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>465,901</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>441,919</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter68"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>65</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_69"></A>

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<a name="_bclHeader69"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>25.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Group&#8217;s borrowings as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.75in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" colSpan=4>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Book value</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 22.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Secured/ unsecured</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed/ Floating</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Effective</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>interest rate %</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Nominal value (in million)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>September 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 22.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0.25pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XIV due 2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>32</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>300,986</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>290,205</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XVI due 2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>109</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,034,555</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>998,594</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XVIII due 2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>34</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>319,286</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>308,022</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XIX due 2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Badlar + 350 </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>bps </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>185,684</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XX due 2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>89,668</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>56,278</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XXI due 2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Badlar + 375 bps </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>190,318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XXII due 2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>207,833</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA NCN Class II due 2017 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Badlar + 450 bps </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10,739</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10,730</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA NCN Class I due 2017 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>150</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,412,064</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,352,655</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA NCN Class II due 2020 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>139.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,247,876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,202,130</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Propiedades Comerciales S.A. due 2017 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7.87%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>114.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,061,011</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,021,782</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Propiedades Comerciales S.A. NCN Class I due 2017 (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed/ Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>407.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>393,370</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 7.55pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Long term loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Libor + 300 bps or 6% (the higher)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>121,905</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>117,574</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Long term loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Rate Survey PF 30-59 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,622</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9,911</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Long term loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Secured </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4.00 to 7.23 and TJLP + 3.45 to 4.45 Selic</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>110,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>155,727</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Seller financing (ii) (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Secured </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>73,877</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>70,959</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Finance lease obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Secured </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10.75% - 7.14% </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>to 13.28%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,462</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,389</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Finance lease obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6.92%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>7,167</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>12,308</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Long term loans (iv)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(iv)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>8,158</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Long term loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Bol.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7% to 10.19%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,396</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Long term loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>TJLP + 3.00 to 3.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>4,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,028</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Long term loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Secured </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.50 to 8.70</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=3>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>38</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>331</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related parties (Note 35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed/ </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="8%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>22,758</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>22,112</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="8%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,626,706</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.95pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,832,973</FONT></B></P></TD></TR>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>66</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader70"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 9pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 53.45pt; LINE-HEIGHT: 9pt; TEXT-INDENT: -53.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>25.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Borrowings </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(Continued)</FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

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   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="21%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Book value</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid" width="1%">

   <P style="MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured/ unsecured</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed/ Floating</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Effective interest rate %</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Nominal value </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(in million)</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>September 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XIV due 2018</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1.50%</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>32</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>93</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>102</FONT></P></TD></TR>

<TR style="HEIGHT: 9.25pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XV due 2015</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Badlar + 400 bps</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>176</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>60,420</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>120,760</FONT></P></TD></TR>

<TR style="HEIGHT: 9.25pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XVI due 2018</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1.50%</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>109</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>5,236</FONT></P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>4,986</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XVII due 2016</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Badlar + 250 </FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>bps </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>176</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>172,772</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>172,602</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XVIII due 2019</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>34</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1,149</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1,141</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XIX due 2016</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27.50%</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>187</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>186,478</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>803</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XX due 2017</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>2.50%</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>18.2</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1,521</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>812</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XXI due 2017</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Badlar + 375 </FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>bps </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>192</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>5,932</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>CRESUD NCN Class XXII due 2019</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>22</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(802)</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>IRSA NCN Class I due 2017 </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>8.50</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>149</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>19,351</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>47,318</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>IRSA NCN Class I due 2015 </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Badlar + 395 </FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>bps </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>209.4</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>214,084</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>IRSA NCN Class II due 2017</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Badlar + 450 </FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>bps</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>10.8</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>265</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>258</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>IRSA NCN Class II due 2020 </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>11.50%</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>139.5</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>28,483</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>62,798</FONT></P></TD></TR>

<TR style="HEIGHT: 6.45pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>IRSA Propiedades Comerciales S.A. due 2017</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>7.88%</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>114.3</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>32,285</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>10,677</FONT></P></TD></TR>

<TR style="HEIGHT: 6.45pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>IRSA Propiedades Comerciales S.A. NCN Class I due 2017 (i)</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed/ Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>407.3</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>68</FONT></P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 7.95pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Bank overdrafts</FONT></P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>22.54%</FONT></P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>19,430</FONT></P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>327,687</FONT></P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>609,152</FONT></P></TD></TR>

<TR style="HEIGHT: 6.65pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Bank overdrafts (v)</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>836,983</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>681,553</FONT></P></TD></TR>

<TR style="HEIGHT: 6.65pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans (iv)</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(iv)</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>13.6</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>7,008</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>106,469</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans (viii)</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(vii)</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>106.4</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>246,064</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>5,854</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Repurchase agreement with haircut (viii)</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(viii)</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>37.44</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>38,170</FONT></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 6.65pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Libor + 300 bps or 6% (the higher)</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>15</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>8,666</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>10,204</FONT></P></TD></TR>

<TR style="HEIGHT: 6.65pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rate Survey PF 30-59 days</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>20</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>6,892</FONT></P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>7,576</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>TJLP + 3.00 to 4.40</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>17</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>4,750</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>7.51 to 15.12%%</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>74,990</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>15.01%</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>24</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>90,583</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>6,875</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>4.00 to 7.23 and TJLP + 3.45 to 4.45 Selic</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27,470</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>27,744</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Other short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>17,541</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>25,945</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>5.5 to 8.70</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1,581</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>2,763</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Syndicated loans (vi)</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(vi)</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>50.13</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>50,058</FONT></P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>75,485</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Seller financing</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>85,037</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Seller financing</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>IGP-M</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>47,901</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>58,064</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1.6905 + Exchange rate variation</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>29,001</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Finance lease obligations</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>10.75% and 7.5%</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>0.5</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>2,050</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>1,880</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Finance lease obligations</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Rs.</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>6.92%</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>6,632</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>9,890</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Other short term loans</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Secured</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Bol. </FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>7% and 10.19%</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>13.5</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>3,286</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>3,115</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Related parties (Note 35)</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>15,568</FONT></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>14,198</FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Current borrowings</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>2,247,408</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>2,476,886</FONT></B></P></TD></TR>

<TR style="HEIGHT: 6.75pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Total borrowings</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>8,874,114</FONT></B></P></TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.75pt; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt" vAlign=bottom width="9%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>8,309,859 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #cceeff" width="25%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="9%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="2%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="6%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="2%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="8%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="2%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="11%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="2%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="9%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="2%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="11%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="2%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="8%">&nbsp;</TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="1%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 6.5pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 17pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -17pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>On September 18, 2015, IRSA </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Commercial Properties</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>S.A. issued non-convertible notes Class I at a mixed rate with maturity of 18 months for an amount of Ps. 407.3 million. The first three months the interest rate will be fixed at 26.5% and from the fourth month until maturity pricing will be&nbsp;&nbsp; Badlar plus four basis points. Interest will be paid quarterly and principal will be repaid in full at maturity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 7pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Seller financing of plot of land - Vista al Muelle S.A. in Canelones, Uruguay (trading properties).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 18pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(iii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>Debt incurred to the purchase of Zetol S.A.'s shares (trading properties): </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Mortgage financing of US$ 7 million with a fixed 3.5% interest rate. The balance is payable, by choice of the seller, in money or with the delivery of units in buildings to be built representative of 12% of the total marketable square meters built.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 18pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(iv)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>On December 23, 2013 the Company subscribed a new loan with Banco Citibank N.A. for an amount of Ps. 5.9 million and shall accrue interest at a rate of 15.25%. Principal will be repaid in 9 consecutive quarterly installments beginning in December 2014. Additionally, on December 30, 2014 the Company subscribed a new loan with Banco Citibank N.A. for an amount of Ps. 10 million and shall accrue interest at a rate of 26.50%. Principal will be repaid in 9 consecutive quarterly installments beginning in December 2015.</FONT></P>

<P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt; LINE-HEIGHT: 7pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(v)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>As of September 30, 2015 and June 30, 2015, bank overdrafts were drawn on several domestic financial institutions. The Company has bank overdrafts of less than three months bearing floating interest rates ranging from 15% to 55% per annum.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 18pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(vi)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>On November 16, 2012 the Company subscribed a syndicated loan for Ps. 118,000. Principal will be payable in 9 quarterly consecutive installments and shall accrue interest at rate of 15.01%. On June 12, 2013 the Company subscribed a new syndicated loan for Ps. 111,000. Principal will be payable in 9 quarterly consecutive installments and shall accrue interest at rate of 15.25%. Both loans have been entered into with various banking institutions, one of which is Banco Hipotecario (Note 34).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 18pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(vii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>On December 12, 2012, a loan has been entered into with Banco Provincia de Buenos Aires in the amount of Ps. 29 million. Principal will be repaid in 9 consecutive quarterly installments beginning in December 2013. Additionally, on February 3, 2014 a new loan has been subscribed for Ps. 20 million. As of the date of these financial statements, the mentioned capital is fully canceled. On December 23, 2014, the Group subscribed a new loan with Banco Provincia de Buenos Aires for Ps. 120 million. Principal will be payable in only one installment due on June 19, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 18pt; LINE-HEIGHT: 10pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(viii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>During the quarter ended September 30, 2015, loans were taken in the stock market for terms ranging between seven and thirty days at rates ranging between 20.38% and 24% collateralized by securities.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>67</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>25.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Borrowings </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Notes issued by Cresud</FONT></I></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Classes XXI and XXII NCN</FONT></U></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On August 12, 2015, Cresud issued Class XI Non-Convertible Notes for an aggregate principal amount of up to Ps. 150 million, which may be extended for up to Ps. 700 million in two classes: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Class XXI Non-Convertible Notes, for a face value of Ps. 192.2 million and falling due 18 months after the issuance date, will accrue interest at mixed rate. Fixed rate of 27.5% during the first 9 months and floating rate (Badlar plus 375 basis points). Interest will be payable quarterly in arrears whereas the principal will be amortized in one payment at due date. The issuance price was 100.0% of the nominal value.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Class XXII Non-Convertible Notes, for a face value of US$ 22.7 million, with an issuance price of 97.65% of the nominal value resulting US$ 22.2 equivalent to Ps. 204.3 million and falling due 48 months after the issuance date, will accrue interest at fixed annual rate of 4%. Interest will be payable quarterly in arrears whereas the principal will be amortized in two payments.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=red face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 10pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Notes issued by subsidiary undertakings</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Class I NCN IRSA CP</FONT></U></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On September 18, 2015, it was approved the issuance of Corporate Notes Class I of its global corporate notes program of IRSA CP in a nominal amount of up to US$ 500.0 million, for an amount of Ps. 407.3 million (equivalents to US$ 43.4 million). Corporate Notes Class I expire on the 18th month since the issue date and accrue interest rate: for the first three month the interest rate will be fixed at 26.5% and from the fourth month until maturity pricing will be Badlar plus 4 basis points. Interest will be paid quarterly and principal will be repaid in full at maturity.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>68</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>26.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Taxation</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The details of the provision for the Group&#8217;s income tax are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(109,736)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(266,470)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>136,592</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Minimum Presumed Income Tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(359)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,204)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax expense</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(89,007)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(131,082)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The gross movement on the deferred income tax account was as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the period / year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>501,495</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>382,597</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(20,738)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(30,951)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reserve for changes in non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(50,359)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reclassification to assets held for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(33,346)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Use of tax loss carryforwards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(9,239)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(157,367)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Charged / (Credited) to the income</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>390,921</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>492,606</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>501,495</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Group did not recognize deferred income tax assets of Ps. 43.0 million and Ps. 43.3 million as of September 30, 2015 and June 30, 2015, respectively. Although management believes that it will become profitable in the foreseeable future, as a result of the history of recent losses incurred during the development phase of the different Group&#8217;s business operations and the lack of verifiable and objective evidence due to the limited operating history of the Group itself, the Board of Directors has determined that there is sufficient uncertainty as to the generation of sufficient income to utilize the losses within a reasonable timeframe, therefore, no deferred tax asset is recognized in relation to these losses.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>69</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader73"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><FONT face=arial,sans-serif></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>26.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Taxation </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The tax on the Group&#8217;s profit before tax differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated entities as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax calculated at the tax rates applicable to profits in the respective countries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>160,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(65,177)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Permanent differences:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of loss of associates and joint ventures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(230,177)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(59,402)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Unrecognized tax losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,191)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(4,121)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-taxable income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>703</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-deductible expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(11,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(9,422)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(6,109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,040</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.9pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(89,007)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(131,082)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Entities in Argentina are subject to the Minimum Presumed Income Tax (&#8220;MPIT&#8221;). Pursuant to this tax regime, an entity is required to pay the greater of the income tax or the MPIT. Tax is calculated on an individual entity basis at the statutory asset tax rate of 1% and is based upon the taxable assets of each company as of the end of the year, as defined by Argentine law. Any excess of the MPIT over the income tax may be carried forward and recognized as a tax credit against future income taxes payable over a 10-year period. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Company does not set up an allowance for Minimum Presumed Income Tax and is considering filing a declaratory action under the terms of section 322 of the Civil and Commercial Procedural Code against the AFIP seeking certainty as to the application of the MPIT for the fiscal year 2014, 2015 and advance payments from 7 through 11 corresponding to fiscal year 2014, in relation to the decision by the Argentine Supreme Court in the case &#8220;Hermitage&#8221; on September 15, 2010 and &#8220;Perfil&#8221; on February 11, 2014. In such judicial precedents, the Court had declared such tax to be unconstitutional given that, under certain circumstances, it proves to be unreasonable and inconsistent with the ability-to-pay principle.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>27.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; Equity</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 35.45pt"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Share capital and premium</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The share capital of the Group is represented by common shares with a nominal value of Ps. 1 per share and one vote each. During the three-month period ended September 30, 2015, there was a capital increase resulting from the Company&#8217;s Incentive Plan. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>70</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font style=""><font face=georgia style=""><b><font color=black face=georgia lang=ES-AR style="font-size:16.0pt;layout-grid-mode:line;">Cresud Sociedad An&#243;nima,</font></b></font></font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font style=""><font face=georgia style=""><b><font color=black face=georgia lang=ES-AR style="font-size:16.0pt;layout-grid-mode:line;">Comercial, Inmobiliaria,
Financiera y Agropecuaria</font></b></font></font></b></p>

<p align=center style="line-height:16.0pt;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font style=""><font face=arial,sans-serif style=""><b><font color=black face=arial,sans-serif lang=ES-AR style="font-size:12.0pt;layout-grid-mode:line;">&nbsp;</font></b></font></font></b></p>

<p align=center style="line-height:16.0pt;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;text-align:center;"><b><font style=""><font face=arial,sans-serif style=""><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">Notes to the Unaudited Condensed
Interim Consolidated Financial Statements </font></b></font></font></b><font face=arial,sans-serif style=""><font color=black face=arial,sans-serif lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">(Continued)</font></font></p>

<p align=center style="line-height:16.0pt;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif style=""><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(All amounts in thousands of
Argentine Pesos, except shares and per share data and as otherwise indicated)</font></font><font face=arial,sans-serif style=""></font></p>

<p align=center style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif style=""><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Free translation from the original
prepared in Spanish for publication in Argentina</font></font><font face=arial,sans-serif style=""></font></p>


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<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-35.45pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">27.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Shareholders&#8217;
Equity </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(Continued)</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:0in;text-align:justify;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Legal reserve</font></i></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">According
to Argentine law, 5% of the profit of the year is separated to constitute a
legal reserve until they reach legal capped amounts (20% of total capital).
This legal reserve is not available for dividend distribution and can only be
released to absorb losses. The Company shall have to fully replenish such
reserve before any distribution of accumulated earnings.</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:.75in;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-18.55pt;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Treasury stock</font></i></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Given that
the repurchase of shares for subsequent sale is to be funded out of net cash
income or free reserves, pursuant to section 220.2. of Act 19,550, insofar as
the Company maintains Treasury shares there is a restriction on the
distribution of retained earnings or free reserves, equal to the acquisition
cost.</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:.75in;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-18.55pt;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dividends </font></i></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:14.0pt;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">During the
three-month period ended as of September 30, 2015, there were no distributions
of dividends. </font></p>

<p style="line-height:115%;margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif style="line-height:115%;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>



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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="display:none;"><font face=Arial,sans-serif lang=ES-AR style="font-size:8.0pt;"></font></font><font style=""><font face=Arial,sans-serif lang=ES-AR style="font-size:8.0pt;">71</font></font><font style=""><font style="display:none;"><font face=Arial,sans-serif lang=ES-AR style="font-size:8.0pt;"></font></font></font></p>


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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>28.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></B></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 35.4pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="37%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="41%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>September 30, 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Urban properties and investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agricultural</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agroindustrial</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Urban properties and investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agricultural</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agroindustrial</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trading properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,158</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,158</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,748</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Crops</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>262,949 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>262,949 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>325,820</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>325,820</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>45,332 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>45,332 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>29,975</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>29,975</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dairy</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,503 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,503 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,467</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sugarcane</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>101,649 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>101,649 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,181</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,507 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,507 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,426</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,426</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Beef</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>189,910 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>189,910 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>215,241</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>215,241</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sales income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,158</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>441,940</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>189,910 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>633,008</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,748</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>491,869</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>215,241</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>711,858</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Base rent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>349,104</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>349,104</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>304,460</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,160</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>305,620</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Contingent rent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>137,936 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>137,936 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>86,610</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>86,610</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Admission rights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>45,015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>45,015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>34,600</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>34,600</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Parking fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>36,965 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>36,965 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>24,844</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>24,844</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Commissions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15,745 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>431 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16,176</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,135</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>448</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,583</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consignment revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,743 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,743 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,625</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,625</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Property management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,717 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,717 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,483</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,483</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Expenses and Collective Promotion Funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>254,941 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>254,941 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>201,422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>201,422</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Flattening of tiered lease payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,836 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,836 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,663</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,663</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and agricultural services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,781 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,781 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>686</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,320</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advertising and brokerage fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11,463 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11,463 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11,773</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11,773</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,115 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,838</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,953</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,222</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,979</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,201</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and service income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>856,374 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>24,256 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>880,630 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>688,439</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>25,619</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>686</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>714,744</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consumer financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>28 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>28 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>55</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>55</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Hotel operations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>110,695 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>110,695 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96,827</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96,827</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other revenues</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>110,723 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>110,723</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96,882</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96,882</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Group revenue</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>968,255 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>466,196 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>189,910 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,624,361 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>790,069</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>517,488</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>215,927</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,523,484</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>- </FONT></B>


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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>72</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>




<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>29.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Costs</FONT></B></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 5.65pt">

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   <P style="LINE-HEIGHT: 115%; TEXT-INDENT: -19.8pt; MARGIN: 0in 0in 0pt 19.8pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="40%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>September 30, 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="LINE-HEIGHT: 115%; TEXT-INDENT: -19.8pt; MARGIN: 0in 0in 0pt 19.8pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Urban properties and investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Agricultural</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Agroindustrial</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Urban properties and investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Agricultural</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Agroindustrial</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cost of leases and services</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,169 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,169 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>3,339</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>3,339</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Other operative costs</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,392 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,392 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,666</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,666</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cost of property operations</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>4,561 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>4,561 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>6,005</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>6,005</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Crops</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>302,273 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>302,273 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>431,084</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>431,084</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cattle</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>76,029 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>76,029 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>82,240</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>82,240</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Dairy</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>33,610 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>33,610 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>32,836</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>32,836</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Sugarcane</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>143,166</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>143,166</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>151,158</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>151,158</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Supplies</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>11,936 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>11,936 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>14,006</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>14,006</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Beef</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>- </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>170,145</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>170,145</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>156,616</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>156,616</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Others</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,447 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,447 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>777</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>777</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Leases and agricultural services</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,612 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,612 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,871</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,871</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Consignment costs</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,219 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,219 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>474</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>474</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Commissions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,819 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,819 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>3,103</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>3,103</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Brokerage operations</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>8,621</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>8,621</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>7,683</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>7,683</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cost of agricultural sales and services</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>583,732</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>170,145</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>753,877</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>725,232</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>156,616</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>881,848</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cost of sale of trading properties</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>4,559</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>4,559</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,907</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2,907</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cost from hotel operations </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>81,563</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>81,563</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>66,291</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>66,291</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Cost of leases and services</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>349,999</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>349,999</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>286,098</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>286,098</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Costs from Consumer Financing</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>32</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>32</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>74</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>74</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Total Group costs</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>436,153</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>588,293</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>170,145</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,194,591</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>355,370</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>731,237</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>156,616</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>1,243,223</FONT></B></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>73</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_77"></A>

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<a name="_bclHeader77"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Expenses by nature</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>For the three-month period ended as of September 30, 2015: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" width="58%" colSpan=13>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Group costs</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of property operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>agricultural sales and services</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of agriculture production</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of sale of trading properties</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost from Consumer Financing</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost from hotel operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other operative costs</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases, services charges and vacant property costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,709</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>807</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>215</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>280</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,286</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,999</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>50,244</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,099</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,043</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,891</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>771</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,288</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>70,506</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Allowance for doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,826</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,826</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advertising, publicity and other selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>52,610</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,683</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,304</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>64,597</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Taxes, rates and contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>27,244</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>679</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,735</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>750</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>90</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,775</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>45,561</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>81,847</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Maintenance and repairs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>97,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,082</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,877</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,049</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,657</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>247</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,910</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>395</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>129,886</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees and payments for services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>678</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>47,711</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>832</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>124</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>32</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>197</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40,818</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,413</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>92,822</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Director&#180;s fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>46,287</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>46,287</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Payroll and social security expenses (Note 31<FONT style="FONT-SIZE: 7pt" face=Arial>)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>110,317</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>31,977</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>19,857</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>48,972</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,009</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>70,898</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12,467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>295,497</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of sale of properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,400</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Food, beverage and other lodging expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,654</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,072</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>20,891</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in biological assets and agricultural produce</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>433,601</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>58</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>433,659</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Supplies and labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>173,607</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>180,752</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Freights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>667</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>449</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,593</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>38</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>29,383</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>34,198</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Commissions and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,548</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,030</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,747</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,342</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Conditioning and clearance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,728</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,728</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Travel and library expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,872</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,342</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,877</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,685</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>396</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,466</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Export expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>23,551</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>23,551</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,989</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,569</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>124</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,190</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,433</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11,311</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 1.15pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total expenses by nature</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>349,999</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>544,498</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>211,548</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,559</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>32</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>81,563</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,392</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>194,458</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>146,516</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,535,565</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>74</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_78"></A>

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<a name="_bclHeader78"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Expenses by nature </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>For the three-month period ended as of September 30, 2014: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" width="57%" colSpan=13>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Group costs</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of property operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>agricultural sales and services</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of agriculture production</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of sale of trading properties</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost from Consumer Financing</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost from hotel operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other operative costs</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases, services charges and vacant property costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,398</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>720</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>281</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>93</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,450 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>414 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,619 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40,229</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,056</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,838</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>741</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,853 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>63,265 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Allowance for doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,965 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,965 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advertising, publicity and other selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>31,889</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,540</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,206 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>42,635 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Taxes, rates and contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>25,638</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>778</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,359</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>684</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>23</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,491 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40,574 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>73,547 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Maintenance and repairs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>76,220</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,205</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,958</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>912</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,306</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>330</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,139 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>391 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>102,461 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees and payments for services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,992</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>52,695</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>65</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>402</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>352</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>25,508 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,139 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>89,848 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Director&#180;s fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>27,350 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>27,350 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Payroll and social security expenses (Note 31)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>91,333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>30,145</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15,330</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>37,264</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>56,449 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,820 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>241,162 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of sale of properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>828</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>828 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Food, beverage and other lodging expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15,550</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,887 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,297 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,734 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in biological assets and agricultural produce</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>333,888</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>333,888 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Supplies and labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>180,650</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>229,687</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>659 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>411,003 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Freights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>465</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,434</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>42,069 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>45,983 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Commissions and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,918</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>104</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,510 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,755 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,287 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Conditioning and clearance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,520 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,527 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,399</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,284</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>141</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>199</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,699 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(590) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>26,026 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 1.15pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total expenses by nature</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>286,098</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>624,753</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>260,779</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,907</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>74</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>66,291</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,321</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>139,351 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>122,554 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,505,128</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>75</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_79"></A>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>31.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Employee costs</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Salaries, bonuses and social security costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>267,692</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>215,011</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Equity settled compensation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,423</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,464</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Pension costs &#8211; defined contribution plan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>238</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,449</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>295,497</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>241,162</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -42.55pt; MARGIN: 0in 0pt 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>32.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: -42.55pt; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from commodity derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24,408</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,693</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss from disposal of other property items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(5,841)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(577)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from disposal of intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>378</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from disposal of interest in associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,758</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax on personal assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3,182)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(4,367)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Consulting fee</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>614</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>496</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Contingencies (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(709)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3,452)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Donations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(4,644)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3,896)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Unrecoverable VAT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(565)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(118)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Expenses related to transfers of investment property, plant and equipment to subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(8,899)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,326</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total other operating results, net</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,709</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>964</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: -42.55pt; MARGIN: 0in 0in 0pt 42.55pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Including costs and legal expenses.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 71.45pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<a name="_bclFooter79"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>76</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>33.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial results, net</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance income:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Interest income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,228</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,905</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Foreign exchange gains</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>56,843</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>33,318</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Dividends income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,370</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,195</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>91,441</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,418</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance costs:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Interest expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(253,894)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(230,005)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Foreign exchange losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(229,609)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(230,934)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Other financial costs </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(33,032)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(38,780)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance costs </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(516,535)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(499,719)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Less finance costs capitalized </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,034</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total financial costs </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(516,535)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(497,685)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other finance results:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Fair value (Loss) / Gains of financial assets and liabilities at fair value through profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(234,482)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>149,400</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.5pt; MARGIN: 0in 4.3pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Gain / (Loss) from derivative financial instruments (except commodities) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>198,747</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(40,625)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Gain / (Loss) on the revaluation of receivables arising from the sale of farmland </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,260</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(7,326)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Loss from repurchase of Non-convertible Notes </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(297)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total other finance results </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(21,772)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>101,449</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total financial results, net</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(446,866)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(340,818)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>34.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Established by the Company and subsidiaries</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Equity Incentive Plan </FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>For the three-month periods ended September 30, 2015 and 2014, the Group incurred in a charge of Ps. 9.4 million and Ps. 15.2 million, respectively, related to the awards granted under the Equity Incentive Plan.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Movements in the number of equity-settled options outstanding under the Equity Incentive Plan were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 22.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At the beginning</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,613,637</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,033,785</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>308,426</FONT></P></TD></TR>

<TR style="HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(660,744)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,883,077)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(31,696)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.95pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(845,497)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.45pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 6.8pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At the end</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.45pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,921,197</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.45pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,613,637</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter80"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>77</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_81"></A>

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<a name="_bclHeader81"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>34.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Share-based payments </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.75in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Established only by subsidiary undertakings</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>BrasilAgro Stock Option Plan</FONT></I></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>For the three-month period ended September 30, 2105, the Group had no charges related to related to the awards granted under the BrasilAgro Stock Option Plan, while for the three-month period ended September 30, 2014, the charge incurred was Ps. 0.3 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Movements in the number of equity-settled options outstanding and their related weighted average exercise prices under the BrasilAgro Stock Option Plan are as follows:</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="80%" colSpan=9>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>First tranche</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="25%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Second tranche</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="25%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Third tranche</FONT></B></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Option&#8217;s </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercise price</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Options</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Option&#8217;s </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercise price</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Options</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Option&#8217;s </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercise price</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Options</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At the beginning</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Ps. 8.97</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>233,689</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>206,425</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.52</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>206,425</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Forfeited</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercised</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(233,689)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Expired</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At the end</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Ps. 8.97</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>206,425</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.52</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>206,425</FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="80%" colSpan=9>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, 2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>First tranche</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="25%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Second tranche</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="25%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Third tranche</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Option&#8217;s </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercise price</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Options</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Option&#8217;s </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercise price</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Options</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Option&#8217;s </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercise price</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Options</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At the beginning</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Ps. 8.97</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>301,848</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>260,952</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.52</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>260,952</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cancelled</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exercised</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Expired</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(68,159)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(54,527)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(54,527)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>At the end</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Ps. 8.97</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>233,689</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>206,425</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ps. 8.52</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>206,425</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>78</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions</FONT></B></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>During the normal course of business, the Group conducts transactions with different entities or parties related to it. An individual or legal entity is considered a related party where:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>An entity, individual or close relative of such individual or legal entity exercises control, or joint control, or significant influence over the reporting entity, or is a member of the Board of Directors or the Senior Management of the entity or its controlling company.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>An entity is a subsidiary, associate or joint venture of the entity or its controlling or controlled company.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Main transactions conducted with related parties are described in Note 39 to the Consolidated Financial Statements as of June 30, 2015 and 2014.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>79</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 53.6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 28.35pt; MARGIN: 0in 0pt 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>See description of the main transactions conducted with related parties in Note 39 to the Consolidated Financial Statements as of June 30, 2015 and 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 28.35pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the balances with related parties as of September 30, 2015:</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

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   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Tarshop S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,371</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(10)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(536)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>New Lipstick LLC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,646</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Supertel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>34,958</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Lipstick Management LLC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>886</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=5 width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,960</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(905)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Receivables on futures and options</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>802</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agrofy S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Contributions to be paid in</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro Managers S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>297</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=5 width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco Hipotecario S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(886)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(50)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Commission per supermarket aisle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,550)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(18,069)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>353</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco de Cr&#233;dito y Securitizaci&#243;n</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>36</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #ffffff; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,671</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>43</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="18%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,000</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,671</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>43,461</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(10)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,416)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,550)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(18,069)</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>80</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 53.6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0px" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other <BR>payables <BR>Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Current</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Joint Ventures</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cresca S.A. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Loans granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>121,421</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Puerto Retiro S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>44</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,328</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=6 width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Nuevo Puerto Santa Fe S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,096</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(8,227)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases&#8217; collections</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>514</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(735)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,043</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Quality Invest S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>226</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Baicom Networks S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Contributions to be paid in</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=3 width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cyrsa S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(17,208)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Credit due to capital reduction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(10)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Entretenimiento Universal S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>67</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>84</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Entertainment Holding S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>75</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="13%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Joint Ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>122,730</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16,776</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(754)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(17,208)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(8,227)</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>81</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and <BR>other <BR>payables</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Current</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other related parties</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consultores Asset Management S.A. (&#8220;CAMSA&#8221;)</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advances to be recovered</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,322)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,181</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(53)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Estudio Zang, Bergel &amp; Vi&#241;es</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advances</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>385</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,128)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fundaci&#243;n IRSA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>108</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(581)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inversiones Financieras del Sur S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>337,406</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>359</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Boulevard Norte S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Museo de los Ni&#241;os</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>99</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(10)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>776</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Austral Gold</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>797</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ogden Argentina S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>761</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>La Rural S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(39)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IFIS Limited</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consultores Venture Capital Uruguay</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,223</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Elsztain Managing Partners </FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Other related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>349,271</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(8,168)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=4 width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,292)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(80,085)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,417</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Guarantee deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(20)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(13)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,312)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(80,098)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="13%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,000</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,671</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>122,730</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>417,964</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,322)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(91,436)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(22,758)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(26,296)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>35.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Related party transactions </FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the balances with related parties as of June 30, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and <BR>other <BR>payables</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Non-current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Current</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Tarshop S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,792</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(25)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(722)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>New Lipstick LLC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,567</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Condor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>29,492</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Lipstick Management LLC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>854</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Metropolitan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(10)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=5 width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Receivables on futures and options</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>184</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(807)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Commissions receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(40)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of inputs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>595</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro Managers S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>297</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=5 width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco Hipotecario S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(117)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,428)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Commissions per supermarket aisle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,674)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(22,155)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>762</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco de Cr&#233;dito y</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,766</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: white; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Securitizaci&#243;n </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>42</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; BACKGROUND: #cceeff; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>452</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,000</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>452</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>38,431</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(25)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,124)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,674)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(22,155)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter86"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>83</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_87"></A>

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<a name="_bclHeader87"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and <BR>other <BR>payables</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Joint Ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cresca S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>29</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Loans granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>114,446</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Puerto Retiro S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,148</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>257</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=6 width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Nuevo Puerto Santa Fe S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>543</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,826)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases&#8217; collections</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(594)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,644</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Quality Invest S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>233</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Baicom Networks S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,275</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>222</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Contributions to be paid in</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>924</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cyrsa S.A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Credit due to capital reduction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(14,438)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(23)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Entretenimiento</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>115</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Universal S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>80</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Entertainment Holding S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>211</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>72</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="11%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Joint Ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>115,721</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16,851</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(626)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(14,438)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,826)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>84</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and <BR>other <BR>payables<BR>Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>CAMSA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,743)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,292</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Estudio Zang, Bergel &amp; Vi&#241;es</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>33</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>377</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,185)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Estudio Managing Partners</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fundaci&#243;n IRSA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inversiones Financieras del Sur S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>323,018</FONT></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends receivables</FONT></P></TD>

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   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Museo de los Ni&#241;os</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>94</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>750</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Austral Gold</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>331</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Boulevard Norte S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>881</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ogden Argentina S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>724</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>La Rural S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(39)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consultores Venture Capital Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,125</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Other related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 1.75pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>335,341</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(8,002)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(41,634)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Advances </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>317</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Guarantee deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(21)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(15)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>357</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(21)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(41,649)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>100,000</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>452</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>115,721</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>390,980</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(46)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(53,401)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(22,112)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(29,981)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter88"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>85</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_89"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader89"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the transactions with related parties for the three-month period ended as of September 30, 2015:</FONT></P>

<P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>to use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration and management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Compensation of Directors and senior management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Commissions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Donations</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>874</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Tarshop S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,502</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco Cr&#233;dito y Securitizaci&#243;n S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,259</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco Hipotecario S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>583</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,290)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,344</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>874</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,290)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Joint Ventures</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cyrsa S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(693)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Baicom Networks S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Nuevo Puerto Santa Fe S.A.</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(142)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>523</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(404)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>180</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Quality Invest S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>54</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Joint Ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(142)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>580</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(895)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consultores Asset Management S.A. (CAMSA)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>127</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(11,617)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,585</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Estudio Zang, Bergel &amp; Vi&#241;es</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fundaci&#243;n IRSA</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Hamonet S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Isaac Elsztain e Hijos S.C.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(264)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Condor Hospitality Trust Inc. (formerly Supertel Hospitality Inc., due to change of corporate name).</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(126,019)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ogden Argentina S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>37</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Other related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(275)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(11,617)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,783)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(124,397)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(39,396)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Senior Management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,649)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(42,045)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,927</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(11,037)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>874</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(42,045)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,783)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(126,582)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>96</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>86</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_90"></A>

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<a name="_bclHeader90"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=black face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>35.</FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Related party transactions </FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the transactions with related parties for the three-month period ended as of September 30, 2014:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 92%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 92%" face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 92%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 92%" face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>to use</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Management fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Compensation of Directors and senior management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Donations</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,129</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Tarshop S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,219</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco Cr&#233;dito y Securitizaci&#243;n S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>915</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>148</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(696)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,282</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,129</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(696)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Joint Ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cyrsa S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,606)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>34</FONT></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Nuevo Puerto Santa Fe S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(239)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>310</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(300)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>277</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>54</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Joint Ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(239)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>367</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,595)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consultores Asset Management S.A. (CAMSA)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>79</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inversiones Financieras del Sur S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,298</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,159)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Estudio Zang, Bergel &amp; Vi&#241;es</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(971)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Hamonet S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(123)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Isaac Elsztain e Hijos S.C.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(237)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Other related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(360)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>79</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(971)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,298</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,159)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(20,745)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Senior Management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,973)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(24,718)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,683</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>446</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,129</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(24,718)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(971)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,993)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,159)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>87</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>36.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>CNV General Resolution N&#176; 622</FONT></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As required by Section 1&#176;, Chapter III, Title IV of CNV General Resolution N&#176; 622, below there is a detail of the notes to the Unaudited Condensed Interim Consolidated Financial Statements that disclosure the information required by the Resolution in Exhibits. </FONT></P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit A - Property, plant and equipment</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 10 - Investment properties </FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 11 - Property, plant and equipment</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit B - Intangible assets</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 13 - Intangible assets</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit C - Equity investments</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 37 - Investments in associates and joint ventures</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit D - Other investments</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 16 - Financial instruments by category</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit E - Provisions</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 18 - Trade and other receivables</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 24 - Provisions</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit F - Cost of sale and services</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 38 - Cost of sales and services provided</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit G - Foreign currency assets and liabilities </FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 39 - Foreign currency assets and liabilities</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit H - Exhibit of expenses</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 30 - Expenses by nature</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>88</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT face=arial,sans-serif></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>37.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Investments in associates and joint ventures</FONT></B></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Issuer and type </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>of securities</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Class</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Amount</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Value recorded as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 1.75pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Value recorded as of 06.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Market value as of 09.30.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Issuer&#180;s information </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>% of ownership interest in common stock</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Main</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>activity</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Place of business / country of incorporation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Last financial statement issued</FONT></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Common stock (nominal value)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Income (loss) for the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shareholders' equity </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agrofy S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>45,230</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agricultural</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8,512</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>47,180</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>35.72%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Intergroup</FONT></P>

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(225)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(406)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agromanagers S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>981,029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,764</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,996</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Investment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,094</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(327)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,936</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>46.84%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,560</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,792</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agrouranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>893,069</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>16,854 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>19,371 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agricultural</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,358)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>43,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>35.72%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>11,179 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>11,179 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>28,033 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>30,550 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=ES-AR color=#000000 face=arial,sans-serif>Banco de Cr&#233;dito y Securitizaci&#243;n S.A. (1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,984,375</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>16,744 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>15,814 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>62,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>7,014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>246,906</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>6.38%</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>16,744 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>15,814 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Banco Hipotecario S.A. (1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>449,804,237</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,420,318 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,351,718 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>5.95</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,500,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>176,081</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>4,531,034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>29.99%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>120 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(380)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>4,904 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>4,904 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,425,342 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,356,242 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>IDB Development Corporation Ltd.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>280,247,664</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,016,664</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,528,687 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1.97 (3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Investment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Israel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>49.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,016,664</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,528,687 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Lipstick Management LLC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,759</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Management company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>United States</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(2) 142</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(2) 584 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>49.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

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   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

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<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="8%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,121</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: none transparent scroll repeat 0% 0%; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,827</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>89</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>37.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Investments in associates and joint ventures</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; BACKGROUND: white" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="16%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Issuer and type </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>of securities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Class</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Amount</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Value recorded as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Value recorded as of 06.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Market value as of 09.30.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Issuer&#180;s information </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 2px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>% of ownership interest in common stock</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Main</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>activity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Place of business / country of incorporation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Last financial statement issued</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Common stock (nominal value)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Income (loss) for the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shareholders' equity&nbsp;</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Manibil S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>37,747,880</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>49,670 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>39,195 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>77,037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,170</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>96,291</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>49.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>7,350 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>59,680 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>46,555 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>New Lipstick LLC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(397,910)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(346,149)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>United States</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(2) (24,796)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(2) (97,224)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>49.87%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>13,829 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,522 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(384,081)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(344,627)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Condor Hospitality Trust Inc.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,261,723</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>18,575</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(18,304)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Management company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>United States</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(2) 47</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(2) (6,243)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(2) (14,875)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>25.63%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>18,575</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(18,304)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Tarshop S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>48,759,288</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>12,098 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>14,253 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Consumer financing </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>20.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>32,500 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>22,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(3,642)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(3,851)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>40,956 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>32,402 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,227,188</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,652,938</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Joint Ventures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Baicom Networks S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>4,701,455</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,487 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,235 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>9,403</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(1,130)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>5,449</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>50.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>340 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>340 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>276 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>276 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,103 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,851 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Cresca S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>N/A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>177,830</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>89,104</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agricultural </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Paraguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>69,077</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,775</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>128,235</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>50.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>87,080</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>177,830</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 3.5pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>176,184</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Cyrsa S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8,748,269</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>18,611 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>17,532 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>17,497</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>12,745</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>33,503</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>50.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>123 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>123 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>18,734 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #ffffff; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 7pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>17,655 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 7pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>90</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<a name="_bclHeader94"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 16pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt" align=center><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="MARGIN: 0in 0pt 0pt 0.25in; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 35.45pt; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>37.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Investments in associates and joint ventures</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> (Continued)</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0.25in; LINE-HEIGHT: 13pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BACKGROUND: white; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 4pt">

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Issuer and type </FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>of securities</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Class</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Amount</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Value recorded as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Value recorded as of 06.30.15</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Market value as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Issuer&#180;s information </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 2px double; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>% of ownership interest in common stock</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Main</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>activity</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Place of business / country of incorporation</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Last financial statement issued</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Common stock (nominal value)</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Income (loss) for the period</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Shareholders' equity </FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Entertainment Holdings S.A.</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>22,395,574</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>15,775 </FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>17,181 </FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Investment</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>44,791</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>4,964</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>44,051</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100 </FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>100 </FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26,647</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26,647</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(23,192)</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(23,192)</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>19,330 </FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; BACKGROUND: #cceeff; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>20,736 </FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Entretenimiento Universal S.A.</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>300</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>21</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Event organization and others</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>12</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2,990</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,298</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>2.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>21</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>10</FONT></B></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=ES-AR style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Nuevo Puerto Santa Fe S.A.</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=ES-AR style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>138,750</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>26,088</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>23,675</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Commercial</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>27,750</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6,819</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>44,702</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,323</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,323</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>real estate </FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,761</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>3,805</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>31,172</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; BACKGROUND: #cceeff; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>28,803</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Puerto Retiro S.A.</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>23,067,250</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16,207</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>16,536</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>46,135</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(2,071)</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>32,764</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>41,160</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>41,160</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>57,367</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 3.5pt; BACKGROUND: #cceeff; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>57,696</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Quality Invest S.A.</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom rowSpan=4 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>70,314,342</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>71,896</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>66,967</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>140,629</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6,953</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>149,757</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>50.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Irrevocable contributions</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>6,500</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,015</FONT></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: #cceeff; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>1,017</FONT></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 3.25pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>72,911</FONT></B></P></TD>

   <TD style="HEIGHT: 3.25pt; BACKGROUND: none transparent scroll repeat 0% 0%; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>74,484</FONT></B></P></TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Total Joint Ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>380,468</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; BACKGROUND: #cceeff; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>378,419</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Total investments in associates and joint ventures as of 09.30.15</FONT></B></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt; TEXT-INDENT: -6.75pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(*) 2,607,656</FONT></B></P></TD>

   <TD style="HEIGHT: 4pt; BACKGROUND: none transparent scroll repeat 0% 0%; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>Total investments in associates and joint ventures as of 06.30.15</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; BACKGROUND: #cceeff; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" align=right>

   <P style="MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 7pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif>(*) 3,031,357</FONT></B></P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.5pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #cceeff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 7pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 9.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 9.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(*)&nbsp;&nbsp; Include a balance of Ps. (384,488) and Ps. (362,931) reflecting interests in companies with negative equity as of September 30, 2015 and June 30, 2015, respectively, which is reclassified to &#8220;Provisions&#8221; (Note 24).</FONT></P>

<P style="MARGIN: 0in 0in 0pt 14.2pt; LINE-HEIGHT: 9.5pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(1)&nbsp;&nbsp; Amounts correspond to the Financial Statements of Banco Hipotecario S.A. and Banco Cr&#233;dito y Securitizaci&#243;n S.A. prepared in accordance with the Central Bank of the Argentine Republic (&#8220;BCRA&#8221;) standards. For the purpose of the valuation of the investment in the Company, the adjustments necessary to adequate the financial statements to IFRS have been considered. </FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 9.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(2)&nbsp;&nbsp; Amounts stated in US dollar. </FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 9.5pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif>(3)&nbsp;&nbsp; Market value in NIS.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>91</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>38.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cost of sales and services provided</FONT></B></P>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.65pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.65pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="31%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agricultural business</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.65pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=9 noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Urban properties and investments business</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.65pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom rowSpan=2 width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.65pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total as of 09.30.14</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Biological assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Inventories</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Agricultural services</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Subtotal Agricultural business</FONT></B></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Services and other operating costs</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Trading properties</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Hotels inventories</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Others</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Subtotal Urban properties and investments business</FONT></B></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total as of 09.30.15</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Inventories as of the period / year </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>405,842</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>483,922</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>889,764</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>132,954</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>6,926</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>139,880</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(i) 1,029,644</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(ii)</FONT><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif> 909,320 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

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   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agriculture produce at the point of harvest</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>28,969</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>11,094</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>40,063</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>40,063</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>36,120</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

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   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Changes in the net realizable value of agriculture produce after harvest</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,933)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,933)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,933)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(22,021)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

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   <TD vAlign=bottom width="1%" noWrap>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Decrease due to harvest</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>170,504</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>170,504</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>170,504</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>302,000</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Acquisitions and classifications</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>188</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>337,346</FONT></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>337,534</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>337,534</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>336,545</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Consume</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(195)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(85,825)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(86,020)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(86,020)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(94,153)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Additions</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>103</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>166</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>269</FONT></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>269</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>57</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(1,400)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(81)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(1,481)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(1,481)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(681)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Expenses incurred</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>24,255</FONT></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>17,219</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>41,474</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>349,999</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>4,559</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>81,563</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>32</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>436,153</FONT></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>477,627</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>390,679</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,442)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(8,442)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(3,945)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(3,945)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(12,387)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(13,219)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.95pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Inventories as of the period / year </FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(386,616)</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(444,830)</FONT></B></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(831,446)</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(127,712)</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(7,011)</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(134,723)</FONT></B></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(iii) (966,169)</FONT></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.95pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(iv) </FONT><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>(864,524)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Costs as of 09.30.15</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>48,188</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>479,091</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>17,219</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>544,498</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>349,999</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>4,559</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>81,563</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>32</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>436,153</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>980,651</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Costs as of 09.30.14</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>54,206</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>556,546</FONT></B></P></TD>

   <TD vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>14,001</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>624,753</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>286,098</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,907</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>66,291</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>74</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>355,370</FONT></B></P></TD>

   <TD vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>980,123</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(i)&nbsp;&nbsp;&nbsp; Includes Ps. (18,056) corresponding to materials and inputs of IRSA and FyO and Ps. (2,446) of meet due for slaughtering of SACPSA as of June 30, 2015. Does not include Ps. 690 corresponding to fattening.</FONT></P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(ii) &nbsp; Includes Ps. (10,952) corresponding to materials and inputs of IRSA as of June 30, 2014.</FONT></P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(iii)&nbsp; Includes Ps. (15,664) corresponding to materials and inputs of IRSA as of September 30, 2015. Does not include Ps. 555 corresponding to fattening (Biological assets).</FONT></P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(iv)&nbsp; Includes Ps. (12,422) corresponding to materials and inputs of IRSA and FyO as of September 30, 2014.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>92</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader96"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>39.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Foreign currency assets and liabilities</FONT></B></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Book amounts of foreign currency assets and liabilities as of September 30, 2015 and June 30, 2015 are as follows:</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Items (3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Amount of foreign currency (2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Prevailing exchange rate (1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total as of 09.30.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Amount of foreign currency (2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Prevailing exchange rate (1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total as of 06.30.15</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Trade and other receivables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Uruguayan Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,159</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>0.323</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>374</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,193</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>0.335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>400</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>18,269</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>164,199</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>29,288</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>263,241</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Euros</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>0.5997</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10.005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>0.2998</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10.005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Trade and other receivables related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>11,103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>100,907</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10,284</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>93,463</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total trade and other receivables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>265,486</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>357,107</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Investment in financial assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>48,045</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>431,831</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>26,618</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>239,246</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>New Israel Shekel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,834</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2.401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>6,807</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,672</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2.381</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>6,361</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Uruguayan Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>626</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>14.134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8,854</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>721</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>14.134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10,196</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total Investment in financial assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>447,492</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>255,803</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Derivative financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>12,797</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>115,015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,145</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10,294</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>New Israel Shekel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>149,737</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2.401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>359,591</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>95,936</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2.381</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>228,415</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Financial instruments related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,171</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>28,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3,169</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>28,798</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total Derivative financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>503,422</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>267,507</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Uruguayan Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>0.323</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>54</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>0.335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>18</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>78,270</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>703,487</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>38,775</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>348,509</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Euros</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>119</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10.005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,190</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>114</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>10.005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1,140</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Swiss francs </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>9.665</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>9.728</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>New Israel Shekel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2.401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>47</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>967</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2.381</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2,304</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Pounds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>14.134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>14.134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>32</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Yenes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>41</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>0.073</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>41</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Brazilian Reais</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3.000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>3.000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>35</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total Cash and cash equivalents</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>704,800</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>352,042</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter96"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>93</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_97"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader97"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 17.85pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 17.85pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.6pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>39.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Foreign currency assets and liabilities</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Items (3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Amount of foreign currency (2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="3%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Prevailing exchange rate (1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="3%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total as of 09.30.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total as of 06.30.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="4%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Prevailing exchange rate (1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="3%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Amount of foreign currency (2)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Trade and other payables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Uruguayan Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>0.322</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>69</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>99</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>0.334</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>33</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>14,291</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>129,873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>13,007</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>118,212</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Euros</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>0.3945</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10.140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>0.39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10.140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>4</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Trade and other payables related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>110</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>34</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total trade and other payables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>130,056</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>118,283</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>658,204</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,981,761</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>616,036</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>5,598,537</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,981,761</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,598,537</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Derivative financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,785</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>16,222</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>944</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>8,580</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>New Israel Shekel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>208,112</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2.4014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>499,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>210,248</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2.3809</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>500,580</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total Derivative financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>516,001</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>509,160</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Provisions </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>94</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>91</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total provisions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>94</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>91</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Payroll and social security liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Uruguayan Peso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>329</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>0.323</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>106</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>587</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>0.335</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Total Payroll and social security liabilities</FONT></B></P></TD>

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<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.55pt 0pt 14.2pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1)</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Exchange rate as of September 30, 2015 and June 30, 2015 according to Banco Naci&#243;n Argentina records.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.55pt 0pt 14.2pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2)</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Considering foreign currencies those that differ from Company&#8217;s functional currency at each period/year-end.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 14.2pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(3)</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>The Company uses derivative financial instruments as complement in order to reduce its exposure to exchange rate movements (Note 20).</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>94</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 7.1pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 7.1pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>40.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>CNV General Ruling N&#176; 629/14 &#8211; Storage of documentation</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On August 14, 2014, the CNV issued General Ruling N&#176; 629 whereby it introduced amendments to rules related to storage and conservation of corporate books, accounting books and commercial documentation. In this sense, it should be noted that the Group has entrusted the storage of certain non-sensitive and old information to the following providers:</FONT></P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Documentation storage provider</FONT></B></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Location</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Bank S.A.</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Gral. Rivas 401, Avellaneda, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ruta Panamericana Km 37,5, Gar&#237;n, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Av. Fleming 2190, Munro, Province of Buenos Aires</FONT></P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Carlos Pellegrini 1401, Avellaneda, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Iron Mountain Argentina S.A.</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Av. Amancio Alcorta 2482, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Pedro de Mendoza 2143, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Saraza 6135, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Azara 1245, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Pol&#237;gono industrial Spegazzini, Autopista Ezeiza Km 45, Ca&#241;uelas, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ca&#241;ada de Gomez 3825, Autonomous City of Buenos Aires</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>It is further noted that a detailed list of all documentation held in custody by providers, as well as documentation required in section 5 a.3) of section I, Chapter V, Title II of the RULES (2013 as amended) are available at the registered office.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On February 5, 2014 there was a widely known fire in Iron Mountain&#8217;s warehouse, which company is a supplier of the Group and where Group&#8217;s documentation was being kept. Based on the internal review carried out by the Group, duly reported to the CNV on February 12, 2014, the information kept at the Iron Mountain premises that were on fire do not appear to be sensitive or capable of affecting normal operations.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>95</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

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<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>41.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Subsequent events </FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On the balance sheet date, Cresud has sold, through various market transactions, 410,181 ADR's representing 10 common share of IRSA (N.V. Ps. 1 per share) in the amount of US$ 7.1 million. Thus, the Group&#8217;s investment in IRSA would decline by 1.1%.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 30, 2015, the General Ordinary and Extraordinary Shareholders&#8217; Meeting of the Company was held, where it was decided to adjourn the meeting to November 26, 2015, the following items:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=Calibri,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Consideration of the income for the year ended June 30, 2015, which amounted to Ps. 114 million. Consideration of payment of a cash dividend for a total amount of up to Ps. 88.1 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=Calibri,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Consideration of the treatment to be afforded to treasury stock.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=Calibri,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Consideration of the treatment for the Paid-in Capital account and the consideration of the reserve&#8217;s reclassification.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Furthermore, the meeting approved the directors&#8217; compensation in the amount of Ps. 14.3 million; it was decided not to compensate the members of the Statutory Audit Committee; it approved the amount to be paid on account of the tax on personal assets of shareholders; the Board of Directors was entrusted with the implementation of a new Service Sharing Agreement; it decided to increase the amount of the Program, which amounts currently to a maximum outstanding amount of up to US$ 300 million, by an additional amount of up to US$ 200 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On October 30, 2015, IRSA&#8217;s annual Shareholders&#8217; Meeting related to the fiscal year ended June 30, 2015, appointed the new members of the Supervising Commission and the Board of Directors; approved the Board of Directors&#8217; compensation; decided not to compensate the members of the Statutory Auditor Committee; it approved the amount to be paid on account of the tax on personal assets of shareholders; entrusted the Board of Directors with the implementation of a new Service Sharing Agreement; approved the Board of Director&#8217;s power regarding the Global Corporate Note Issuance Program consisting of common corporate notes not convertible into shares, with or without collateral or collateralized by third parties, and for a maximum outstanding amount of up to US$ 300 million. It was decided to adjourn the meeting to November 26, 2015, for the consideration of the following matters: (i) allocation of the income for the year, (ii) special Financial statements of merger / merger &#8211; split off.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>96</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

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<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>41.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Subsequent events</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>On October 30, 2015, the Annual Shareholders' Meeting of IRSA Propiedades Comerciales corresponding to the fiscal year ended June 30, 2015, approved, among others, the following issues: (i) appropriate the sum of Ps. 283.6 million to payment cash dividends; (ii) ratify the interim dividend approved by Shareholder's Meeting dated June 13, 2015 in the amount of Ps. 298.5 million; (iii) approve the Director's fees in the amount of Ps. 76.4 million and (iv) approve the increase in the amount of the Global issuance Program of Non-Convertible Notes for a maximum outstanding amount up to US$ 500 million, for an additional amount of US$ 100 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In October 2015, the deposit made as collateral for potential expenses related to the sale of the Madison building was released and distributed among the participating parties as follows: the Group, through Rigby, received US$ 0.91 million; the buyer of the building received US$ 0.06 million, and the remaining balance was applied to expenses.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On November 5, 2015, the Group through IRSA signed the transfer deed for the sale of the 7th and 8th floors of the Maip&#250; 1300 Building. The total price of the transaction was US$ 3.0 million. Such transaction generated a gain before tax of approximately Ps. 25.9 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 9, 2015, IRSA granted a loan in the amount of US$ 40 million to Inversiones Financieras del Sur S.A. (&#8220;IFISA&#8221;). The term of the loan is one year calculated from the disbursement and will bear interest at a rate of 3% + LIBOR 1M, to be determined monthly. As collateral for the loan, 73,169,991 shares of IDBD which belong to IFISA were pledged.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>IDBD</FONT></U></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 1, 2015, Dolphin and IFISA submitted to the court their reply to the Petition made by the Arrangement Trustees. Dolphin requested that the court reject the petition of the Arrangement Trustees based on the following grounds: (a) IFISA is not obliged to carry out Dolphin&#8217;s obligations under the Arrangement; (b) IFISA and any other company controlled by Eduardo Sergio Elsztain are eligible to engage as bidders of the Tender Offers, pursuant to the Agreement; and (c) the petition made by the Arrangement Trustees regarding the eligibility of the shares that would participate in the Tender Offers should be denied. Additionally, Dolphin stated that once the BMBY closing transaction has been completed, 106.6 million shares of IDBD in its hands would not participate as bidders in the Tender Offers, provided that such stocks are held by companies controlled by Eduardo S. Elsztain.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 7, 2015, the Arrangement Trustees filed with the Court their reply to Dolphin and IFISA regarding the Petition of the Arrangement Trustees. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

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<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>41.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Subsequent events</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The BMBY proceeding concluded on October 11, 2015 and IFISA acquired all ETH&#8217;s shares of stock held by IDBD (92,665,925 shares), at a share price of NIS 1.64. On closing the transaction, all the directors of ETH in IDBD submitted their irrevocable resignation to the Board, and the Shareholders&#8217; Agreement ceased automatically in accordance with its own terms. Additionally, on the same date, Dolphin pledged additional shares as a performance bond for the Tender Offers, thereby increasing the number of pledged shares to 64,067,710.</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 19, 2015, Dolphin and IFISA filed with the court their reply to the Petition of the Arrangement Trustees, whereby, among other things, Dolphin stated that as buyer of the Tender Offers, it is not its intention to participate, and will not participate, as seller in the Tender Offers. However, according to Dolphin&#8217;s position, any other IDBD shareholder, including the companies controlled by Eduardo S. Elsztain, is entitled to act as bidder in the Tender Offers and, in addition, Dolphin is entitled to sell shares to third parties (including companies controlled by Eduardo S. Elsztain), and such shares sold are entitled to engage as bidders in the Tender Offers, all of this without abolishing Dolphin&#8217;s commitment in respect of 106.6 million shares held by Dolphin which would not participate in the Tender Offers provided that they are held by companies controlled by Eduardo S. Elsztain.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 20, 2015, the court issued a declaratory ruling regarding the Petition of the Arrangement Trustees, stating that:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.05pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=Calibri,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The shares in the hands of Dolphin and any other company controlled by Eduardo S. Elsztain are not entitled to participate as bidders in the Tender Offers. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=Calibri,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The shares held by Dolphin and/or companies controlled by Eduardo Sergio Elsztain, and which were or are transferred to third parties, will not be entitled to participate as bidders in the Tender Offers.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=Calibri,sans-serif>-</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>This remedy will not apply to the shares that were purchased from the minority shareholders in transactions carried out in the capital markets, which became held by IFISA.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The court dismissed the petition of the Arrangement Trustees regarding the determination that IFISA was obliged to fulfill all the commitments made under the Arrangement&#8217;s terms and conditions, but ruled that Dolphin had violated its commitment to get IFISA to undertake to fulfill the same terms and conditions of the Agreement. Dolphin and IFISA reported to IDBD their intention to appeal the court&#8217;s ruling.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

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<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>41.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Subsequent events </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#333333 face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#333333 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 26, and after the court&#8217;s ruling of October 20, 2015 and its declaratory remedy, Dolphin and IFISA sent a letter stating that pursuant to their position and the details included therein: (a) the exception prescribed by the court whereby the shares that were purchased from minority shareholders and became held by IFISA is applicable to the 127,441,396 shares of IDBD held by IFISA, and to the 131,600 shares of IDBD held by Dolphin, which should be entitled to participate as bidders in the Tender Offers; and (b) regarding the 51,760,322 additional shares of IDBD held then by Dolphin, originating from purchases made to minority shareholders of IDBD, Dolphin and IFISA consider that pursuant to the court&#8217;s opinion, these shares cannot participate as bidders in the Tender Offers, only for as long as they remain in Dolphin&#8217;s possession, but Dolphin is not precluded from selling such shares to any third party, and in such case, that such third party should have the right to participate with such shares as bidder in the Tender Offers.</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 29, 2015, the Arrangement Trustees filed an urgent petition for presumed disobedience of the court order regarding Dolphin&#8217;s and IFISA&#8217;s obligation to follow the court orders of October 20, 2015, alleging that Dolphin&#8217;s and IFISA&#8217;s letter published by IDBD on October 27, 2015, reporting the number of shares purchased from IDBD&#8217;s minority shareholders in transactions carried out in the capital markets, was contrary to the court&#8217;s decision; and, therefore, that Dolphin and IFISA were acting in contempt of court. The Arrangement Trustees also stated that given that Dolphin and IFISA were deliberately disregarding the court&#8217;s decision, and in light of the damages caused daily to the public, including the creditors subject to the Arrangement, the court should impose a substantial fine to be defined by it, for each day that Dolphin and IFISA disregarded the court&#8217;s ruling. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On October 29, 2015, Dolphin and IFISA filed an appeal with the Supreme Court challenging the court ruling dated October 20, 2015, requesting also to hold a hearing for the appeal urgently. The appeal hearing was set for September 16, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On November 2, Dolphin and IFISA submitted their reply to this petition, requesting that the court should reject the petition, on the ground that the Contempt of Court Ordinance is not applicable to declaratory remedies and that Dolphin and IFISA did not violate any court order. On November 4, the Arrangement Trustees submitted a replication to Dolphin and IFISA, and on November 5 the court decided to reject the petition to declare Dolphin and IFISA in contempt of court. However, the court stated that the interpretation of Dolphin and IFISA regarding the exception of the ruling dated October 20, 2015 contained in the letter sent by Dolphin and IFISA was contrary to the exception scope. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>99</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Consolidated Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT face=arial,sans-serif></FONT></P></DIV>

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<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>41.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Subsequent events</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On that same November 5, the Arrangement Trustees sent a letter to Dolphin and IFISA requiring that, after the court ruling issued on that same date, they should amend the letter and report to the Israel Securities Authority and IDBD that the Tender Offers would be offered by IDBD&#8217;s minority shareholders; and that Dolphin, IFISA and/or any other company under the control of Eduardo S. Elsztain should not act as bidders in the Tender Offers. And additionally, that any share transferred by them to any third parties should not be entitled to engage in the Tender Offers as bidders either. That same day, the Arrangement Trustees sent a letter to IDBD requesting them to amend the letter of Dolphin and IFISA on the same terms described above.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The company is discussing the impact of the court&#8217;s decision dated October 20, 2015 on its financial statements, and its defense strategy; as well as the impact of the conclusion of the BMBY proceeding with IFISA as the buyer of ETH&#8217; stocks.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As of November 9, 2015, 33,825,397 IDBD&#8217;s shares of Dolphin are locked up under TASE regulations </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(lock-up provisions)</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> until November 11, 2015 (inclusive), when such lock-up provisions expire.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>REVIEW REPORT ON THE UNAUDITED CONDENSED INTERIM CONSOLIDATED</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>FINANCIAL </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>STATEMENTS</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>To the Shareholders, President and Directors of</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=ES-AR face=georgia>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>Legal address: </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Moreno 877</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> &#8211; 23&#176; floor</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>Autonomous City Buenos Aires</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>Tax Code No. </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>30-50930070-0</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>Introduction</FONT></B></P>

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<P style="LINE-HEIGHT: 97%; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>We have reviewed the unaudited condensed interim </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>consolidated financial statements </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>of Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> and its subsidiaries (hereinafter &#8220;the Company&#8221;) which included the </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>consolidated</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> statement of financial position as of September 30, 2015, the </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>consolidated</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> statement of &nbsp;income and comprehensive income for the three-month period ended September 30, 2015, the </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>consolidated</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> statement of changes in shareholders&#8217; equity and the consolidated &nbsp;statement of cash flows for the three-month period ended September 30, 2015 and selected explanatory notes. </FONT></P>

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<P style="LINE-HEIGHT: 97%; MARGIN: 0cm 0cm 0pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>The balances and other information corresponding to the fiscal year ended June 30, 2015 and the interim periods within that fiscal period are an integral part of these financial statements and, therefore, they should be considered in relation to these financial statements.</FONT></P>

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<P style="LINE-HEIGHT: 97%; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Management responsibility</FONT></B></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>The Board of Directors of the Company is responsible for the preparation and presentation of&nbsp; these unaudited condensed interim consolidated financial statements &nbsp;in accordance with the International Financial Reporting Standards , adopted by the Argentine Federation of Professional Councils in Economic Sciences (FACPCE)&nbsp; as professional accounting standards and added by the National Securities Commission (CNV) to its regulations as approved by the International Accounting Standard Board (IASB) and , for this reason,&nbsp; is responsible for the preparation and presentation of the unaudited condensed interim consolidated &nbsp;financial statements mentioned in first paragraph according to the International Accounting Standard No 34 "Interim Financial Reporting" (IAS 34). </FONT></P><FONT style="LINE-HEIGHT: 115%" face=georgia></FONT>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>REVIEW REPORT ON THE UNAUDITED CONDENSED INTERIM </FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>CONSOLIDATED</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>FINANCIAL STATEMENTS (Continued)</FONT></B></FONT></FONT></B><FONT face=georgia></FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>Scope of our review</FONT></B></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>Our review was limited to the application of the procedures established in the International Standard on Review Engagements ISRE 2410 "Review of interim financial information performed by the independent auditor of the entity", which was adopted as a review standard in Argentina through Technical Resolution No. 33 of the FACPCE as approved by the International Auditing and Assurance Standards Board (IAASB). A review of interim financial information consists of making inquiries of persons responsible for the preparation of the information included in the unaudited condensed interim consolidated financial statements, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the consolidated statement of financial position, the consolidated statement of income and comprehensive income and the consolidated statement of cash flow of the Company.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>Conclusion</FONT></B></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>Nothing came to our attention as a result of our review that caused us to believe that these unaudited condensed interim consolidated financial statements mentioned in the first paragraph of this report have not been prepared in all material respects in accordance with the regulations of the International Accounting Standard No. 34.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>Report on compliance with current regulations</FONT></B></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>In accordance with current regulations, we report about Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria that:</FONT></P>

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<P style="TEXT-INDENT: -24.7pt; MARGIN: 0cm 0cm 0pt 42.55pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>a)</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>the </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=georgia>unaudited condensed interim consolidated financial statements</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> of Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> are recorded in the "Inventory and Balance Sheet Book", and comply, as </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>regards</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> those matters that are within our competence, with the provisions set forth in the Commercial Companies Law and in the corresponding resolutions of the National Securities Commission;</FONT></P>

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<P style="TEXT-INDENT: -24.7pt; MARGIN: 0cm 0cm 0pt 42.55pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>b)</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>the unaudited condensed interim </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>separate </FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>financial statements of&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia> arise from accounting records carried in all formal aspects in conformity with the applicable legal provisions;</FONT></P>

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<P style="TEXT-INDENT: -24.7pt; MARGIN: 0cm 0cm 0pt 42.55pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>c)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>we </FONT><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 10pt" lang=EN-US face=georgia>have</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> read the Business Summary (&#8220;Rese&#241;a Informativa&#8221;) on which, as regards these matters that are within our competence, we have no observations to make;</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>REVIEW REPORT ON THE UNAUDITED CONDENSED INTERIM </FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>CONSOLIDATED</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>FINANCIAL STATEMENTS (Continued)</FONT></B></FONT></FONT></B><FONT face=georgia></FONT></P>

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<P style="TEXT-INDENT: -24.7pt; MARGIN: 0cm 0cm 0pt 42.55pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>d)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>at September 30, 2015, the debt of Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria owed in favor of the Argentina Integrated Pension System which arises from accounting records and submissions amounted to Ps. 11,601,845 which was no callable at that date.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Autonomous City of Buenos Aires, November 11, 2015</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0cm 0cm 0pt" align=center><U><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-GB color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (</FONT></U><U><FONT style="FONT-SIZE: 8pt" lang=EN-GB color=black face=georgia>Partner</FONT></U><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-GB color=black face=georgia>)</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-GB color=black face=georgia>C.P.C.E.C.A.B.A. T&#186; 1 F&#186; 17</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-GB color=black face=georgia>Dr. </FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Carlos Mart&#237;n Barbafina</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-GB color=black face=georgia>Public Accountant (U.C.A.)</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>C.P.C.E.C.A.B.A. T&#186; 175 F&#186; 65</FONT></P></TD>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Separate Statements of Financial Position</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>as of September 30, 2015 and June 30, 2015 </FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

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   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Note</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>06.30.15</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>ASSETS</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

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   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current assets</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,795 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,871</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>474,259 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>470,862</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,528 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,731</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>356,823 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>345,757</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments in subsidiaries, associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,642,831</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,884,629</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>520,214 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>446,802</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income tax and minimum presumed income tax credits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>51,935 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>51,935</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,073,385</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,228,599</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>78,633</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>112,745</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>320,743</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>337,327</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income tax and minimum presumed income tax credits </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,891</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>393,547</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>408,942</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Arial,sans-serif>Investment in financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>49,293</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>52,871</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>24,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,694</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>873,792</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>937,470</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>TOTAL ASSETS</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,947,177</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,166,069</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>SHAREHOLDERS&#8217; EQUITY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>495,015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>494,777</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Treasury stock </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,628 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,866</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inflation adjustment of share capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>64,561</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>64,530</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inflation adjustment of treasury stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>864</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>895</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share premium </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>659,464</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>659,464</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Additional paid-in capital from treasury stock.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.6pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,952</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12,678</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cost of treasury stock.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.6pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(32,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(32,198)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Changes in interest in subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.6pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>48,668</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>53,806</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cumulative translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>350,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>463,297</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>83,719</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>81,988</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reserve for the acquisition of securities issued by the Company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>32,198</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>32,198</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Retained earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.6pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(173,928)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.6pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>117,559</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>TOTAL SHAREHOLDERS&#8217; EQUITY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,550,094</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,955,860</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>LIABILITIES</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>865</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,354,790</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,077,694</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Provisions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>19</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,093</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,076</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,357,672</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,088,635</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>150,592</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>148,616</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>39,407</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>57,592</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>846,119</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>911,120</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,513</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,663</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Provisions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,583</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,039,411</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,121,574</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>TOTAL LIABILITIES</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,397,083</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,210,209</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>TOTAL SHAREHOLDERS&#8217; EQUITY AND LIABILITIES</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,947,177</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8pt; TEXT-INDENT: -53.65pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,166,069</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>&nbsp;The accompanying notes are an integral part of these Unaudited Condensed Interim Separate Financial Statements.</FONT></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 49.55pt; PADDING-TOP: 0in" vAlign=top width="2%"></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="2%"></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Director </FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 14.2pt" align=center><B><FONT style="FONT-SIZE: 16pt" lang=EN-US face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Separate Statements of Income </FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>279,339 </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>321,382</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(325,597)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(408,594)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>106,606</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>144,537</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(8,330)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(14,822)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross Profit </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>52,018 </FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>42,503</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(34,311)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(24,677)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(67,500)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(54,475)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>27</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>667</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,683</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss from operations</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(49,126)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(31,966)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of loss of subsidiaries, associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(152,418)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(7,873)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss before financing and taxation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(201,544)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(39,839)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance incomes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,506</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,585</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(167,112)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(145,558)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other financial results</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3,413)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(9,317)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Financial results, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(164,019)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(144,290)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss before Income tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(365,563)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(184,129)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax gain</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>73,412</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,124</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss for the period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(292,151)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(122,005)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 9.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 9.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 20.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss per share for the period:</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Basic</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(0.59)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(0.25)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Diluted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; TEXT-INDENT: 11.35pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(0.59)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="LINE-HEIGHT: 115%; TEXT-INDENT: -5.15pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(0.25)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="LINE-HEIGHT: 115%; TEXT-INDENT: -5.15pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: 14.2pt; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(i)</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Due to the loss for the period, there is no diluted effect on this result.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 57.3pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; TEXT-INDENT: 14.2pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>The accompanying notes are an integral part of these Unaudited Condensed Interim Separate Financial Statements.</FONT></P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 49.55pt">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 49.55pt; PADDING-TOP: 0in" vAlign=top width="3%"></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 49.55pt; PADDING-TOP: 0in" vAlign=top width="31%"></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="34%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="3%"></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="2%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=top width="31%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Director </FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>2</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in" align=center><B><FONT style="FONT-SIZE: 16pt" lang=EN-US face=Georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Separate Statements of Comprehensive Income</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Loss for the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(292,151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(122,005)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other Comprehensive Loss:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Items that may be reclassified subsequently to profit or loss:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment from subsidiaries, associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(113,146)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(8,375)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other comprehensive loss for the period (i)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(113,146)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(8,375)</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total comprehensive loss for the period</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(405,297)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 2.85pt 0pt 9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(130,380)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -57.3pt; MARGIN: 0in 0in 0pt 85.65pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(i)</FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Items included in other comprehensive (loss) / income do not generate any impact on the income tax.</FONT></P>

<P style="LINE-HEIGHT: normal; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>The accompanying notes are an integral part of these Unaudited Condensed Interim Separate Financial Statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Director </FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>3</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Separate Statements of Changes in Shareholders&#8217; Equity</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

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<TR style="HEIGHT: 18.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Share Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Treasury Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Inflation <BR>adjustment </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>of Share</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Inflation adjustment </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>of Treasury <BR>Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Share premium</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Additional paid-in capital from Treasury Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Cost of Treasury </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 150%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Changes in interest in subsidiaries</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Cumulative translation adjustment</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Reserve for the acquisition of securities issued by </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>the Company</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Retained earnings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Total Shareholders&#8217; equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.1in">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Balance as of June 30, 2015</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>494,777</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>6,866</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>64,530</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>895</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>659,464</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>12,678</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,207,012</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>53,806</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>463,297</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>81,988</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>32,198</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>117,559</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,955,860</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Loss for the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(292,151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.85pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(292,151)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Other comprehensive loss for the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(113,146)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.3pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(113,146)</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Total comprehensive loss for the period</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(113,146)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(292,151)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(405,297)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>4,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>4,669</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Equity incentive plan granted</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(238)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>31</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(31)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(2,938)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>664</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 7.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Changes in interest in subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(5,138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(5,138)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Balance as of September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>495,015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>6,628</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>64,561</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>864</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>659,464</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>14,952</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,209,286</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>48,668</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>350,151</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>83,719</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>32,198</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(173,928)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,550,094</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: 92.2pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>The accompanying notes are an integral part of these Unaudited Condensed Interim Separate Financial Statements</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Director </FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>4</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Separate Statements of Changes in Shareholders&#8217; Equity</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

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<TR style="HEIGHT: 19.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Share Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Treasury Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Inflation <BR>adjustment </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>of Share Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Inflation adjustment </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>of Treasury <BR>Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Share premium</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 150%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Cost of </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 150%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Treasury </FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Stock</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Share</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>warrants</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Changes in interest in subsidiaries</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Cumulative translation adjustment</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Legal reserve</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Reserve <BR>for new developments</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Special reserve<BR>(1)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Reserve for the acquisition of securities issued by the Company</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Retained earnings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.8pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Total Shareholders&#8217; equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 7.6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" width="11%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Balance as of June 30, 2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>490,997</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>10,566</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>64,047</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,378</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>773,079</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(54,876)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>106,264</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,391,455</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(15,429)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>633,607</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>70,028</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>81,616</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>17,065</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>633,940</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>200,000</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(1,066,428)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.6pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,945,854</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Loss for the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(122,005)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(122,005)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Other comprehensive loss for the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(8,375)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(8,375)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Total comprehensive loss for the period</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(8,375)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(122,005)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(130,380)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>12,069</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>12,069</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=arial,sans-serif>Purchase of treasury stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(3,068)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>3,068</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(400)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Changes in interest in subsidiaries </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>29,035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>29,035</FONT></P></TD></TR>

<TR style="HEIGHT: 2.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Balance as of September 30, 2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>487,929</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>13,634</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>63,647</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,778</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>773,079</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(87,074)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>106,264</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,359,257</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>13,606</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>625,232</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>82,097</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>81,616</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>17,065</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>633,940</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>200,000</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(1,188,433)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,824,380</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 9pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1) Corresponding to General Resolution 609/12 of the National Securities Commission. See Note 27 of Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 0pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>The accompanying notes are an integral part of these Unaudited Condensed Interim Separate Financial Statements.</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Director </FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>5</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=X-NONE face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Unaudited Condensed Interim Separate Statements of Cash Flows</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>for the three-month periods ended September 30, 2015 and 2014</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Note</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Operating activities:</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cash (used in) / generated from operations</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(51,902)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>70,279</FONT></P></TD></TR>

<TR style="HEIGHT: 4.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.55pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net cash (used in) / generated from operating activities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.55pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(51,902)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.55pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>70,279</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investing activities:</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of companies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>55,314</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Capital contribution to subsidiaries, associates and joint ventures </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(11)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Acquisition of investment properties</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(147)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(148)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of investment properties</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>849</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>7</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Acquisition of property, plant and equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(6,999)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(14,504)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of property, plant and equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>47</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>92</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Proceeds from sale of farmlands</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>161,712</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Acquisition of intangible assets</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(27)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of investment in financial assets</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(32,460)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,076,727)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Proceeds from disposals of investments in financial assets</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,044</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,112,566</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Loans granted to subsidiaries, associates and joint ventures </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2,757)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Loans repayments received from subsidiaries, associates and joint ventures</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>12,027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>38,460</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends received</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>462</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>38,115</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cash incorporated by merger</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>508</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net cash generated from investing activities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10,052</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>315,368</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financing activities:</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of treasury stock</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(32,198)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Proceeds from issuance of non-convertible notes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>389,967</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>455,038</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Repayment of non-convertible notes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(58,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(538,081)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Proceeds from borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>84</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Repayment of derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(12,555)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(47,170)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Repayment of borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(198,972)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(99,957)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Repayment of seller financing</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(173)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(98)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Interest paid</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 1.2pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(70,744)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(56,929)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net Cash flows generated from / (used in) financing activities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>48,740</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(319,311)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 3.95pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net increase in cash and cash equivalents</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,890</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>66,336</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 4pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents at beginning of the period</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>17,694</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>53,472</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Foreign exchange gain on cash and cash equivalents</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>396</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,091</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="54%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents at the end of the period</FONT></B></FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>120,899</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt 21.3pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>The accompanying notes are an integral part of these Unaudited Condensed Interim Separate Financial Statements.</FONT></FONT></P><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Fernando A. Elsztain</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=ES face=arial,sans-serif>Director </FONT></FONT><FONT face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif>6</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=ES-AR face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements </FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>General information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 7.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.1</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Company&#8217;s business and general information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria (&#8220;Cresud&#8221; or the &#8220;Company&#8221;) was founded in 1936 as a subsidiary of Credit Foncier, a Belgian company primarily engaged in providing rural and urban loans in Argentina and administering real estate holdings foreclosed by Credit Foncier. Credit Foncier was liquidated in 1959, and as part of such liquidation, the shares of Cresud were distributed to Credit Foncier&#8217;s shareholders. From the 1960s through the end of the 1970s, the business of Cresud shifted exclusively to agricultural activities.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cresud is a company organized and domiciled in the Republic of Argentina. The address of its registered office is Moreno 877, 23rd Floor, Buenos Aires, Argentina.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>These Unaudited Condensed Interim Separate Financial Statements have been approved for issue by the Board of Directors on November 11, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of preparation of the Unaudited Condensed Interim Separate Financial Statements</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basis of preparation</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>These Unaudited Condensed Interim Separate Financial Statements of the Company have been prepared in accordance with Technical Resolutions N&#176; 26 (RT 26) of Argentine Federation of Professional Councils of Economic Sciences (&#8220;F.A.C.P.C.E.&#8221;, as per its Spanish acronym) and IAS 34 &#8220;Interim Financial Reporting&#8221;. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Furthermore, some additional issues were included as required by the Business Companies Act and/or regulations of the CNV, including supplementary information provided in the last paragraph of article 1, Chapter III, Title IV of General Ruling 622/13. Such information is included in the Notes to the Unaudited Condensed Interim Separate Financial Statements according to International Financial Reporting Standards ("IFRS").</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>These Unaudited Condensed Interim Separate Financial Statements should be read together with the annual audited Separate Financial Statements of the Company as of June 30, 2015. These Unaudited Condensed Interim Separate Financial Statements are expressed in thousands of Argentine Pesos.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Unaudited Condensed Interim Separate Financial Statements for the three-month periods ended as of September 30, 2015 and 2014 have not been audited. The Company&#180;s management believes they include all necessary adjustments to fairly present the results of each period. Results for the three-month periods ended as of September 30, 2015 and 2014 do not necessarily reflect proportionally the Company&#8217;s results for the complete fiscal years.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>7</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of preparation of the Unaudited Condensed Interim Separate Financial Statements </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Significant accounting policies</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.75in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The accounting policies applied in the preparation of these Unaudited Condensed Interim Separate Financial Statements are consistent with those applied in the preparation of the information under RT 26 as of June 30, 2015 and are based on those IFRS in force as of June 30, 2015 (except for the accounting of investments in subsidiaries, associates and joint ventures, which are accounted for under the equity method as required in RT 26). Furthermore, the most significant accounting policies are described in the annual Consolidated Financial Statements as of June 30, 2015. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.3.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Use of estimates</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.75in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The preparation of financial statements at a certain date requires the Management to make estimations and evaluations affecting the amount of assets and liabilities recorded and contingent assets and liabilities disclosed at such date, as well as income and expenses recorded during the period. Future results might differ from the estimates and evaluations made at the date of preparation of these Unaudited Interim Condensed Separate Financial Statements.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In the preparation of these Unaudited Condensed Interim Separate Financial Statements, the significant judgments made by Management in applying the Company&#8217;s accounting policies and the main sources of uncertainty were the same applied by the Company in the preparation of the annual separate financial statements for the fiscal year ended June 30, 2015, except for changes in provisions for income tax, for legal claims and for doubtful accounts.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Comparative information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Amounts as of June 30, 2015 and September 30, 2014, which are disclosed for comparative purposes have been taken from the separate financial statements as of such dates. The financial statements originally issued have been subject to certain reclassifications required in order to present these figures comparatively with this period.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Seasonal effects on operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The operations of the Company are also subject to seasonal effects. The harvests and sale of grains (corn, soybean and sunflower) generally take place between January and September every year. Wheat is generally harvested between November and February every year. However, milk production is generally larger during the second quarter, when conditions are more favorable. As a result, there may be material fluctuations in the agricultural business results each quarter.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>8</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Acquisitions and disposals</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On August 28, 2015, Carnes Pampeanas S.A.&#8217;s Meeting of Shareholders approved the increase the Company&#8217;s capital stock by swapping a receivable from Cresud in the amount of Ps. 36.31 million, increasing its share capital from Ps. 30 million to Ps. 66.31 million.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As a consequence, Cresud&#8217;s interest in the Company has increased from 95% to 97.74%.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>See summary of acquisitions and additional disposals of the Company for the three-month period ended September 30, 2015 in Note 4 to Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0pt 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>5.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial risk management and fair value estimates</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -56.25pt; MARGIN: 0in 0in 0pt 56.25pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial risk</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The Company&#8217;s activities are exposed to several financial risks: market risk (including exchange rate risk, interest rate risk and price risk), credit risk, liquidity risk and capital risk.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Note 5 to the annual Consolidated Financial Statements provide information on financial risk management as of June 30, 2015 and 2014. Since June 30, 2015 there have been no changes in the risk management or risk management policies applied by the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value estimates</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Since June 30, 2015 there have been no significant changes in business or economic circumstances affecting the fair value of the Company's financial assets, liabilities or biological assets (either measured at fair value or amortized cost). Nor there have been transfers between the several hierarchies used in estimating the fair value of the Company&#8217;s financial instruments, or reclassifications among their respective categories.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>9</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Information about principal subsidiaries, associates and joint ventures</FONT></B></P>

<P style="TEXT-ALIGN: right; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Company conducts its business through several subsidiaries, associates and joint ventures.</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Set out below are the changes in Company&#8217;s investment in subsidiaries, associates and joint ventures for the three-month period ended September 30, 2015 and for the fiscal year ended June 30, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,876,586</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,901,451</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Balance incorporated by merger with Cactus</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(63,671)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Acquisition of subsidiaries and associates (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(5,138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(4,711)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Capital contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>36,282</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>791</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Disposal of interest in subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(36,290)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of (loss) / profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(152,418)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>485,476</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(113,146)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(170,310)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Equity-settled compensation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,788</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,461</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Dividends distributed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,422)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(53,002)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reimbursement of expired dividends</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>510</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Intergroup transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>118</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(198,119)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year (ii)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,642,650</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,876,586</FONT></B></P></TD></TR></TABLE><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></DIV></DIV>

<P style="LINE-HEIGHT: 11pt; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 71.45pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Includes the effect of changes in subsidiaries as consequence of repurchase of equity interest. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(ii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Include a balance of Ps. (181) and Ps. (8,043) reflecting interests in companies with negative equity as of September 30, 2015 and June 30, 2015, respectively, which is reclassified to &#8220;Provisions&#8221; (see Note 19).</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>See changes in Company&#8217;s investment in associates and joint ventures for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 in Notes 8 and 9 to the Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<a name="_bclFooter116"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>10</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader117"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>7.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Investment properties</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Changes in Company&#8217;s investment properties for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 19.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.6pt; PADDING-TOP: 0in" vAlign=top width="60%">

   <P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 0pt 0pt 28.35pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.6pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.6pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.6pt; PADDING-TOP: 0in" width="19%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>10,871</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>20,184</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>147</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2,995</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reclassification to property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(238)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(11,732)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(849)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(2)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Depreciation charges (i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(136)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(574)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>9,795</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>10,871</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>14,100</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>15,098</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(4,305)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(4,227)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="60%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Net book amount</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>9,795</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>10,871</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 9pt; MARGIN: 0in 28.35pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Depreciation charges of investment property were included in &#8220;Costs&#8221; in the Income Statement (Note 25).</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following amounts have been recognized in the income statement: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 16.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" vAlign=top width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Rental and service incomes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,522</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,634</FONT></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="61%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Direct operating expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.05pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,871</FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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<a name="_bclHeader118"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B><B><FONT><FONT face=georgia></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements </FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: both; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Property, plant and equipment</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Changes in Company&#8217;s property, plant and equipment ("PPE") for the three-month period ended September 30, 2015 and for the fiscal year ended June 30, 2015 were as follows:</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Owner-occupied farmland (ii)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other buildings and facilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Furniture and fixtures</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Machinery and equipment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Vehicles</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>At June 30, 2015:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>503,851</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>903</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,575 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>26,730</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,891</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>544,950</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(51,632)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(750)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,032)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(15,170)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(5,504)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(74,088)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net book amount</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>452,219</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>153</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>543</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,560</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,387</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>470,862</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Year ended June 30, 2015:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>407,451</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>120</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>450</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9,511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>4,581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>422,113</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Balance incorporated by merger with Cactus </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,713 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>172 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,890 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>52,060 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>84 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>174 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>4,433 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,697 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>60,448 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reclassifications of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,732 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,732 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(10,955)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(10)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(342)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(266)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(11,577)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Depreciation charges (i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(9,782)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(41)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(82)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2,214)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,625)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(13,744)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>452,219</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>153</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>543</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,560</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,387</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>470,862</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Period ended September 30, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>452,219</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>153</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>543</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,560</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,387</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>470,862</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,419</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>894</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>7,332</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reclassifications of investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>238</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(16)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(31)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(47)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Depreciation charges (i) (Note 25)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2,969)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(12)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(22)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(620)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(503)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(4,126)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Closing net book amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>455,891</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>141</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>540</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,803</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,884</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>474,259</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>At September 30, 2015:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>510,413</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>903</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,594</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>27,581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,891</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>552,382</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(54,522)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(762)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,054)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(15,778)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(6,007)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(78,123)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.7pt 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net book amount</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>455,891</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>141</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>540</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>11,803</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,884</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>474,259</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>For the three-month period ended September 30, 2015, the depreciation expense of property, plant and equipment has been charged as follows: Ps. 264 under the line item &#8220;General and administrative expenses&#8221;, Ps. 55 under the line item &#8220;Selling expenses&#8221; and Ps. 3,807 under the line item &#8220;Cost&#8221; in the Income Statement. For the fiscal year ended June 30, 2015, the depreciation expense of property, plant and equipment has been charged as follows: Ps. 484 under the line item &#8220;General and administrative expenses&#8221;, Ps. 212 under the line item &#8220;Selling expenses&#8221; and Ps. 13,048 under the line item &#8220;Cost&#8221; in the Income Statement.</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

<a name="_bclFooter118"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>12</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader119"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Intangible assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Changes in the Company&#8217;s intangible assets for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0px" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Computer software</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Rights of use </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Opening net book amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>42</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>18,313</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>18,355</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>173</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>173</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Amortization charges (i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(45)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(752)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(797)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Net book amount as of June 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>170</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,561</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,731</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>582</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>19,818</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20,400</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(412)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,257)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,669)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Net book amount as of June 30, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>170</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,561</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,731</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Amortization charge (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(18)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(188)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(206)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Net book amount as of September 30, 2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>155</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,373</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,528</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>585</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>19,818</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20,403</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Accumulated depreciation</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(430)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,445)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,875)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Net book amount as of September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>155</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,373</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,528</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 0in 0pt 56.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Amortization charges are included in &#8220;General and administrative expenses&#8221; in the Income Statement. There is no impairment charges for any of the periods presented.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Changes in the Company&#8217;s biological assets for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 were as follows:</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0px" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the year </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>458,502</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>490,211</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Increase due to purchases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>188</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,202</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>92,346</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>634,451</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Decrease due to harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(66,823)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(550,426)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Decrease due to sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(48,188)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(128,165)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Decrease due to consumption</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(569)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,836)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Incorporated by merger with Cactus</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>65</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>435,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>458,502</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter119"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>13</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_120"></A>

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<a name="_bclHeader120"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 14.15pt; MARGIN: 0in 2.55pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Biological assets as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Classification</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cattle for dairy production </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>39,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>40,478</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Breeding cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>306,482</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>293,709</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other cattle</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,130</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,175</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Production</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,395</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current biological assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>356,823</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>345,757</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cattle for dairy production </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>77</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cattle for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>34,435</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>64,845</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops fields</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>43,653</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>47,265</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Consumable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>539</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>558</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current biological assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>78,633</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>112,745</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total biological assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>435,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>458,502</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following tables present the Company&#8217;s biological assets that are measured at fair value as of September 30, 2015 and June 30, 2015 and their allocation to the fair value hierarchy:</FONT></P>

<DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.55pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=middle width="51%" colSpan=7>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">&nbsp;</DIV></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 1</FONT></B></DIV></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="1%" align=center>

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 2</FONT></B></DIV></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="1%" align=center>

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 3</FONT></B></DIV></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="1%" align=center>

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></DIV></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cattle for dairy production </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>39,030</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>39,030</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Breeding cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>340,917</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>340,917</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,669</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other biological assets (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,187</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops fields</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>43,399</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>254</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>43,653</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>48,586</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>386,616</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>254</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>435,456</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.15pt">

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   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=middle width="51%" colSpan=7>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</DIV></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 1</FONT></B></DIV></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="1%" align=center>

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 2</FONT></B></DIV></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="1%" align=center>

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 3</FONT></B></DIV></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="1%" align=center>

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=middle width="12%" align=center>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: white 1pt solid; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></DIV></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cattle for dairy production</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>40,555</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>40,555</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Breeding cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>358,554</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>358,554</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,733</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,733</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other biological assets (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,395</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,395</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops fields</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,914</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -5.4pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>40,351</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>47,265</FONT></P></TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,309</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>405,842</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>40,351</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>458,502</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.15pt; MARGIN: 0in 2.55pt 0pt 56.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)&nbsp;&nbsp; Biological assets that have no significant growth, are valued at cost, since it is considered that this value is similar to fair value.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>14</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.55pt 0pt 49.65pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.55pt 0pt 49.65pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Changes in Level 3 biological assets for the three-month period ended September 30, 2015 and for the year ended June 30, 2015 are included in the following table:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 22.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.1pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crop fields with significant biological growth</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>As of June 30, 2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>131,261</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>457,939</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Decrease do to harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(548,849)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>As of June 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>40,351</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26,726</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Decrease do to harvest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(66,823)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>As of September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>254</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>When no quoted prices in an active market are available, values are based on recognized valuation methods. The company uses a range of valuation models for the measurement of Level 2 and Level 3 biological assets. The following table presents models and main parameters:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 2</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt; TEXT-DECORATION: none" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.2pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Pricing model</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Parameters</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 12.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=top width="26%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=top width="24%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Comparable market prices</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Price per livestock head/kg and per category</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.15pt; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 3</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 3.15pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Model</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Pricing method</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Parameters</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Values</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Unit of measurement</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.65pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" rowSpan=4 width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Corn</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" rowSpan=4 width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Discounted cash flows</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" rowSpan=4 width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Yields</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7.80 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Tn/ha</FONT></P></TD></TR>

<TR style="HEIGHT: 2.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Future sale prices</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,109 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Ps./Tn</FONT></P></TD></TR>

<TR style="HEIGHT: 2.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>448 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Ps./tn</FONT></P></TD></TR>

<TR style="HEIGHT: 2.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Operating cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Ps./ha</FONT></P></TD></TR>

<TR style="HEIGHT: 2.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" rowSpan=4 width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Wheat</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" rowSpan=4 width="15%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Discounted cash flows</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" rowSpan=4 width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Yields:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2.00 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Tn/ha</FONT></P></TD></TR>

<TR style="HEIGHT: 2.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Future sale prices</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,081 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Ps./Tn</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Selling expenses</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>699 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Ps./tn</FONT></P></TD></TR>

<TR style="HEIGHT: 2.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Operating cost</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,069 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.65pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#000000 face=arial,sans-serif>Ps./ha</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>During the three-month period ended September 30, 2015 and the year ended June 30, 2015 there have been no transfers between the several tiers used in estimating the fair value of the Company&#8217;s biological assets, or reclassifications among their respective categories.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>15</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Biological assets</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>See information on valuation processes used by the entity and on the sensitivity of fair value valuation to changes in material non-observable input data in Note 5.c. to the consolidated financial statements as of June 30, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As of September 30, 2015 and June 30, 2015, the better and maximum use of biological assets shall not significantly differ from the current use.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>11.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Company&#8217;s inventories as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=top width="75%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>178,824</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>198,343</FONT></P></TD></TR>

<TR style="HEIGHT: 10pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Materials and inputs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>84,387</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>80,171</FONT></P></TD></TR>

<TR style="HEIGHT: 10pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Seeds and fodders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>57,532</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>58,813</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total inventories</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>320,743</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>337,327</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As of September 30, 2015 and June 30, 2015 the cost of inventories recognized as expense amounted to Ps. 118,878 and Ps. 422,828, respectively and they have been included in &#8220;Costs&#8221;.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>16</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>12.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial instruments by category</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Determining fair values</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>See determination of the fair value of the Company's financial instruments in Note 16 to the Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following tables present the Company&#8217;s financial assets and financial liabilities that are measured at fair value as of September 30, 2015 and June 30, 2015 and their allocation to the fair value hierarchy:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="49%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 2</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Assets</FONT></B></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment in financial assets:</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Mutual funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,037</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Corporate bonds related parties (Note 30 and 34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,256</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Crops futures (Note 34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>577</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Mutual funds</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,207</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,207</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>52,077</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>52,077</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="49%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" width="51%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30, 2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="49%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Crops futures (Note 34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>601</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>601</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Foreign-currency contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>912</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>912</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>601</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>912</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,513</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="49%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="51%" colSpan=7>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, 2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="49%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investment in financial assets:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Mutual funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>35,624</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>35,624</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Corporate bonds related parties (Note 30 and 34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,247</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,247</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Mutual funds</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,285</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,285</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,156</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,156</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>17</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -53.5pt; MARGIN: 0in 0in 0pt 53.5pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>12.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial instruments by category </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, 2015</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 1</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 2</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Level 3</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments:</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Crops futures</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,663</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,663</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Liabilities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,663</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,663</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>When no quoted prices in an active market are available, fair values (particularly with derivatives) are based on recognized valuation methods. The Company uses a range of valuation models for the measurement of Level 2 and Level 3 instruments, details of which may be obtained from Note 16 to the Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>13.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The detail of the Company&#8217;s trade and other receivables as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12</FONT></P></TD></TR>

<TR style="HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Non-current other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Non-current trade and other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Receivables from sale of agricultural products and services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>41,269</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>44,077</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred checks received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,982</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>691</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Debtors under legal proceedings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,653</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,504</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Less: allowance for doubtful accounts</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(7,985)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(7,921)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current trade receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>52,919</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>38,351</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Prepayments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>40,523</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>45,077</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>VAT receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>31,425</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>29,342</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Personnel Loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,042</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,911</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross sales tax credit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,541</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,211</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax on bank account transactions Law N&#176; 2,541</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,499</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,074</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other tax receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>967</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Advance payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,809</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Expenses and services to recover</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,953</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,125</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,803</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,754</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Less: allowance for doubtful accounts</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(20)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(20)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Current other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>92,850</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>94,250</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Related parties (Note 30)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>247,778</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>276,341</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Current trade and other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>393,547</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>408,942</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 1pt 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total trade and other receivables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>393,547</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 1pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>408,954</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter124"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>18</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_125"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader125"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>13.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade and other receivables </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The fair value of current trade and other receivables approximate their respective carrying amounts because, due to their short-term nature, as the impact of discounting is not considered significant. The fair values are based on discounted cash flows (Level 2 of fair value hierarchy).</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The carrying amounts of the Company&#8217;s trade and other receivables denominated in foreign currencies are detailed in Note 34.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade receivables are generally presented in the statement of financial position net of allowances for doubtful receivables. Impairment policies and procedures by type of receivables are discussed in detail in Note 2.18 to the Annual Consolidated Financial Statements as of June 30, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Movements on the Company&#8217;s allowance for doubtful accounts are as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the year </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,941</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>893</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Incorporated by merger with Cactus</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,434</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,254</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Unused amounts reversed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(159)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Used during the period / year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(481)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,005</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,941</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The addition and release of allowance for doubtful account have been included in &#8220;Selling expenses&#8221; in the income statement (Note 25). Amounts charged to the provision account are generally written off when there is no expectation of recovering additional cash. </FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>14.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Investment in financial assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Company&#8217;s investments in financial assets as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="75%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Corporate bonds related parties (Note 30 and 34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,247</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Mutual funds</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>35,624</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Current</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>49,293</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>52,871</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total Investment in Financial Assets </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>49,293</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>52,871</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>19</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 1in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>15.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Derivative financial instruments of the Company as of September 30, 2015 and June 30, 2015 are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=top width="75%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.05pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Assets</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.05pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops futures (Note 34)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>577</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current assets</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>577</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total assets</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>577</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops futures (Note 34)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>601</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,663</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Foreign-currency contracts</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>912</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current liabilities</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,513</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,663</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total liabilities</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,513</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.2pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,663</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>16.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cash flow information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following table shows the amounts of cash and cash equivalents as of September 30, 2015 and June 30, 2015</FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="75%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cash on hand and at banks</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>22,773</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,409</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Mutual funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,207</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,285</FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total cash and cash equivalents</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24,980</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,694</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>20</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader127"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>16.</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cash flow information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.5pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Following is a detailed description of cash flows used in the Company&#8217;s operations for the three-month periods ended as of September 30, 2015 and 2014:</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 13.4pt">

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   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 6.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; TEXT-INDENT: -5.4pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Loss for the period</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(292,151)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(122,005)</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 0.1in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><I><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Adjustments for</FONT></I></FONT><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>:</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.1in; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 6.4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Income tax expense </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(73,412)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(62,124)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Depreciation </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>4,262</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>3,043</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 7.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Amortization </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>206</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>194</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 7.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,191</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>2,971</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 6.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Loss from disposal of farmlands</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(195,875)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 6.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Loss from disposal and release of investment property and property, plant and equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(87)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Unrealized gain from derivative financial instruments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>3,039</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.95pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>28,655</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Changes in fair value of financial assets at fair value through profit or loss </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(2,289)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(19,827)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.05pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Accrued interest, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>73,452</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.05pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>40,421</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Unrealized initial recognition and changes in the fair value of biological assets</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(39,853)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(80,496)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>8,330</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>14,822</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>4,418</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>16,662</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 6.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Share of profit of subsidiaries, associates and joint ventures</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>152,418</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>208,060</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Unrealized foreign exchange loss, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>72,205</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>80,180</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 5.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.35pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Changes in operating assets and liabilities:</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; BACKGROUND: yellow" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Decrease in biological assets</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>62,899</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>198,713</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Decrease / (Increase) in inventories</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>8,254</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(37,246)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 7.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(Increase) / Decrease in trade and other receivables</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(15,517)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>19,011</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Decrease / (Increase) in derivative financial instruments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>24</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(2,235)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 4.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>(Decrease) / Increase in trade and other payables</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(1,193)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>5,612</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 6.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Decrease in payroll and social security liabilities</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(18,185)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0pt 0pt 9pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(28,170)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif>Net cash (used in) generated from operating activities before income tax paid</FONT></B></FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>. </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(51,902)</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>70,279</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>21</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader128"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>16.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cash flow information </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The following table shows a detail of non-cash transaction occurred during the three-month periods ended as of September 30, 2015 and 2014:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 4pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>09.30.14</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 4pt 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-cash activities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends not collected</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,960)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(4,199)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease of interest in subsidiaries, associates and joint venture by exchange differences on translating foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>113,146</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>8,375</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase of investment in subsidiaries, associates and joint ventures through an increase in trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(876)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Decrease in investments in subsidiaries, associates and joint ventures through an increase in trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2,547)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase of interest in subsidiaries, associates and joint ventures through a decrease in trade and other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(36,237)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in property, plant and equipment through an increase in trade payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>343</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in investment in financial assets through a decrease in property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>48,217</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share-based payments reserve</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,478</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9,098</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Increase in trade and other receivables through a decrease in property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>485</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Repayment of loan as a result of merger</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(25,243)</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Stock plan granted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2,938)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 9pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>17.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade and other payables</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The detail of the Company&#8217;s trade and other payables as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax on shareholders&#8217; personal assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>865</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>789</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>865</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total non-current trade and other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>789</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>865</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>51,188</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>66,325</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,341</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>56,548</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current trade payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>106,529</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>122,873</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Sales, rent and services payments received in advance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,717</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,366</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gross sales tax payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,305</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>VAT payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,095</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax amnesty plan for payable taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>305</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>266</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Withholdings tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,761</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,129</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax on shareholders&#8217; personal assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,970</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,666</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>787</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>780</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>27,211</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,512</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Related parties (Note 30)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>16,852</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,231</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current trade and other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>150,592</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>148,616</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total trade and other payables</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>151,381</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>149,481</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>22</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>17.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Trade and other payables </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 56.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The fair value of trade and other payables approximate their respective carrying amounts due to their short-term nature, as the impact of discounting is considered as not significant. Fair values are based on discounted cash flows (Level 2 of fair value hierarchy).</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Book value of trade and other payables denominated in foreign currencies are detailed in Note 34.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 56.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The detail of the Company&#8217;s salaries and social security liabilities as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Provision for vacations and bonuses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,354</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>49,416</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Social security payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,936</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,183</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Salaries payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>59</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>141</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>58</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>852</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total current payroll and social security liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>39,407</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>57,592</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total payroll and social security liabilities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>39,407</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>57,592</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>19.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The table below shows the movements in Company's provisions categorized by type of provision:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 20.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Labor, legal and other claims</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax and social security</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Investments in subsidiaries, associates and joint ventures (i)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 20.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>As of June 30, 2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,765</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,767</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Balance incorporated by merger with Cactus</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,005</FONT></P></TD></TR>

<TR style="HEIGHT: 5.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>1,470</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>8,043</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>9,513</FONT></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Used during year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(536)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(536)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Payments</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(90)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(90)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>As of June 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,614</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>8,043</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>11,659</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>437</FONT></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Used during period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(180)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(8,043)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>(8,223)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>As of September 30, 2015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,690</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>181</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>3,873</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 14.2pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corresponds to equity interests in subsidiaries, associates and joint ventures with negative equity.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>23</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader130"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>19.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Provisions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The analysis of total provisions was as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,093</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,076</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,583</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,873</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.3pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,659</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>20.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 56.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The detail of the Company&#8217;s borrowings as of September 30, 2015 and June 30, 2015 were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0.75pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="20%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Value as of</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Secured / unsecured</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed / Floating</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Effective </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>interest rate %</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Nominal Value (in million)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>September 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0.25pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XIV due 2018</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>........................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1.50 %</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>32</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>300,986</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>290,205</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XVI due 2018</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>........................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1.50 %</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>109</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,034,555</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>998,594</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XVIII due 2019</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>......................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>34</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>319,286</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>308,022</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XIX due 2016</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>........................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Badlar + 350 bps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>185,684</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XX due 2017 (ii) (iv)</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>............................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2.5 %</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>18.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>172,931</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>167,538</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD Class XXI NCN due 2017 </FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>.......................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Badlar + 350 </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>bps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>190,318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD Class XXII NCN due 2019</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>.......................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>207,833</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Loan from Banco Ciudad</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>.............................................................. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Libor + 300 bps or 6% (the higher)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>121,905</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>117,574</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Loan from Banco de La Pampa</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>.................................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Rate Survey PF 30-59 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>6,622</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>9,911</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Finance lease obligations</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>............................................................. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Secured </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>10.75%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>354</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>166</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Non-current borrowings</FONT></B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Calibri,sans-serif>.......................................................... </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,354,790</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,077,694</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter130"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>24</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader131"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>20.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Borrowings </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Value as of</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Secured / unsecured</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Currency</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed / Floating</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Effective</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>interest rate %</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Nominal Value (in million)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>June 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XIV due 2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1.50 %</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>32</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>93</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>102</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XV due 2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>23.67 %</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>176</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>60,420</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>120,760</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XVI due 2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1.50 %</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>109</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>5,236</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>4,986</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XVII due 2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Badlar + 250 bps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>176</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>172,772</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>172,602</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XVIII due 2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>34</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,149</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>1,141</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XIX due 2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Badlar + 350 bps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>186,478</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>803</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD NCN Class XX due 2017 (i) (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>18.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>3,265</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>3,120</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD Class XXI NCN due 2017 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Badlar + 350 </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>bps</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>5,932</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>CRESUD Class XXII NCN due 2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>4.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>(802)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Loan from Banco Ciudad</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Libor + 300 bps or 6% (the higher)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>8,666</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>10,204</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Loan from Banco de La Pampa</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Rate Survey PF 30-59 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>6,892</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>7,576</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Loan from Banco de la Provincia de Buenos Aires </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>15.01% / 23%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>107</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>90,583</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>6,875</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Finance lease obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Secured </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>US$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>10.75%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>381</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>368</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Bank overdrafts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Unsecured</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>305,054</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>582,583</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Current borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0.25pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>846,119</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>911,120</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>Total borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0.25pt 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>3,200,909</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif>2,988,814</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 3pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 9pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Includes an outstanding balance of Ps, 455, Ps. 840 and Ps. 1,289 with ERSA, IRSA CP and PAMSA, respectively, as of 09.30.15.</FONT></P>

<P style="LINE-HEIGHT: 9pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>(ii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Includes an outstanding balance of Ps, 21,714, Ps. 12,499 and Ps. 61,549 with ERSA, IRSA CP and PAMSA, respectively, as of 09.30.15.</FONT></P>

<P style="LINE-HEIGHT: 9pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>(iii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Includes an outstanding balance of Ps. 437 and Ps. 1,871 with ERSA and PAMSA, respectively, as of 06.30.15.</FONT></P>

<P style="LINE-HEIGHT: 9pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>(iv)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Includes an outstanding balance of Ps. 21,048 and Ps. 90,212 with ERSA and PAMSA, respectively, as of 06.30.15.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The fair value of current borrowings at fixed-rate and current and non-current borrowings at floating-rate equals their carrying amount, as the impact of discounting is not significant. The fair value of all debts that are not quoted in the market are valued at their technical value that is nominal value plus accrued interest.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Book value of borrowings denominated in foreign currencies is detailed in Note 34.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The fair values of non-current borrowings at fixed rate (excluding finance leases) are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>CRESUD Class XIV NCN due 2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>301,962</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>291,247</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>CRESUD Class XVI NCN due 2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,029,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>993,220</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>CRESUD Class XVIII NCN due 2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>318,137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>306,890</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>CRESUD Class XX NCN due 2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>171,733</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>165,614</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>CRESUD Class XXII NCN due 2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>215,022</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,036,701</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,756,971</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter131"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>25</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader132"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -0.75in; MARGIN: 0in 0in 0pt 0.75in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>20.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Borrowings </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>See description of Non-Convertible Notes issued by the Company for the three-month period ended as of September 30, 2015 in Note 25 to Unaudited Condensed Interim Consolidated Financial Statements as of September 30, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>21.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Taxation</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The detail for the Company&#8217;s income tax is as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Deferred income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>73,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,124</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>73,412</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,124</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The gross movements on the deferred income tax account were as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>June 30, </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Beginning of the year </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>446,802</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>302,991</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Balance incorporated by merger with Cactus</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(399)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Reserve for changes in investment in subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(50,359)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Charged to the income statement</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>73,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>194,569</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>End of the period / year</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>520,214</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 8.15pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>446,802</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The Company&#180;s income tax expense charge differs from the theoretical amount that would arise using the weighted average tax rate applicable to Company&#180;s profit before tax as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 14pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax calculated at the tax applicable tax rate in effect</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>127,947</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>64,445</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Permanent differences:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 11.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share of profit of subsidiaries, associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(52,465)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,150)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax on personal assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(806)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,351)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Director&#180;s fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1,189)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(75)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>180</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Income tax expense</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>73,412</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,124</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>22.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; Equity</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>See description of movements on Shareholder&#8217;s equity in Note 27 to the Unaudited Condensed Interim Consolidated Financial Statements as of September 30, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter132"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>26</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader133"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>23.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Revenues</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 13.9pt">

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.5pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>199,756</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 4.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>237,307</FONT></P></TD></TR>

<TR style="HEIGHT: 6.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>56,046</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,179</FONT></P></TD></TR>

<TR style="HEIGHT: 6.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Dairy</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,503</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,467</FONT></P></TD></TR>

<TR style="HEIGHT: 6.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,512</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>795</FONT></P></TD></TR>

<TR style="HEIGHT: 6.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Leases and agricultural services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,522</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,634</FONT></P></TD></TR>

<TR style="HEIGHT: 6.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total revenues </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>279,339</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>321,382</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>24.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Costs</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="75%">

   <P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -19.8pt; MARGIN: 0in 0in 0pt 19.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Crops</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>208,115</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>289,327</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cattle</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>76,029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>82,240</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Dairy</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>33,610</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>32,836</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Leases and agricultural services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,871</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,604</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other costs</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,392</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,320</FONT></P></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total costs</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>325,597</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>408,594</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>27</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_134"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader134"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>25.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Expenses by nature</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>For the three-month period ended as of September 30, 2015: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" width="34%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="39%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cost of sales and agricultural services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cost of agriculture</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>production</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others operating costs </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Supplies and labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>185 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>89,308 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>47</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>89,540 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Leases and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>355 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>659 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,051 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Amortization and depreciation (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>739 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,433 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>771</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>544 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>57 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,544 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>64 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>64 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Changes in biological assets and agricultural produce</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>195,261 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>195,261 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Advertising, publicity and other selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>219</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>219 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Maintenance and repairs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,047 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,460 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>247 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,073 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>118 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,945 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Payroll and social security expenses (Note 26)</FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>675 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>18,901 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,009</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>22,455 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,439 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>44,479 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Fees and payments for services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>667 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,285 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>114 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,113 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Freights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,384 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>38</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,350 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26,799 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Bank commissions and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>327 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,457 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,800 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Travel expenses and stationery</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>37 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,592 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>592 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>38 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,411 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Conditioning and clearance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,572 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9,572 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Director&#8217;s fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,316 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,316 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Taxes, rates and contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>105 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,672 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>13 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>369 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,453 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,612 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Export expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,551</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,551</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>124 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>131 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.15pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total expenses by nature </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>198,106</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>125,099</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,392</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>34,311</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>67,500</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>427,408</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -13.65pt; MARGIN: 0in 0pt 0pt 49.65pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Includes Ps. 76 corresponding to shared services amortization.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>28</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT></B></FONT></FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-GB face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in" align=center><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>25.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Expenses by nature </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>For the three-month period ended as of September 30, 2014: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" width="35%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Costs</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="36%" colSpan=6>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cost of sales and agricultural services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Cost of agriculture</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>&nbsp;production</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others operating costs </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>General and administrative expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Selling expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Supplies and labor</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>224</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>117,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>142</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>118,105</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Leases and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>281</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>716</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>26</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,039</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Amortization and depreciation (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>502</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,643</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>741</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>398</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>49</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,333</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>94</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>94</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Changes in biological assets and agricultural produce</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>258,561</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>258,561</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Advertising, publicity and other selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>384</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>384</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Maintenance and repairs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>528</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,230</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>330</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>673</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>90</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,851</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Payroll and social security expenses (Note 26)</FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>506</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,259</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,161</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,710</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Fees and payments for services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>58</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>352</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,878</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Freights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,831</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>36,577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>39,422</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Bank commissions and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>161</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>890</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,582</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,633</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Travel expenses and stationery</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(18)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,712</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>198</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>849</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>29</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,770</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Conditioning and clearance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,722</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,722</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Director&#8217;s fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,014</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Taxes, rates and contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>63</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,359</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,294</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,491</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,230</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 1.15pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total expenses by nature </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>260,432</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>145,842</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,320</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>24,677</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>54,475</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>487,746</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Includes Ps. 96 corresponding to shared services amortization.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>29</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>26.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Employee costs</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Salaries, bonuses and social security costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>38,205</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>25,415</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other benefits and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,212</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,399</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,191</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,971</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Pension costs &#8211; defined contribution plan</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(75)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>44,479</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,710</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>27.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other operating results, net</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 35.45pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>773</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>455</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from commodity derivative financial instruments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,021</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,491</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Gain from disposal of property, plant and equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>87</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Expenses related to transfers of property, plant and equipment to subsidiaries</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(4,312)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Tax on shareholders&#8217; personal assets</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2,305)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3,859)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Donations</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(84)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(164)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Project analysis and assessment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>13</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Contingencies</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(61)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(618)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Transfer of consulting arrangement</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,627</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Others</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>323</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(37)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total other operating results, net</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>667</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,683</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 115%; TEXT-INDENT: -42.55pt; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>30</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 0.75in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 0.75in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>28.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial results, net</FONT></B></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 0.75in"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2015</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>September 30,</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2014</FONT></B></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance income:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Interest income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,715</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,457</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Foreign exchange gains</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,791</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,128</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,506</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,585</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance costs:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Interest expense </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(76,167)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(44,878)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Foreign exchange losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(85,433)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(90,538)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Other finance costs </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(5,512)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(10,142)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Finance costs </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(167,112)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(145,558)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Other finance results:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -4.3pt; MARGIN: 0in 0in 0pt 4.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Fair value gains of financial assets at fair value through profit or loss </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,289</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>19,827</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>- Loss from derivative financial instruments (except commodities)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(5,702)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(29,144)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total other finance results </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3,413)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(9,317)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="75%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total financial results, net</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(164,019)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(144,290)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>29.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>See description of share-based payments in Note 34 to the Unaudited Condensed Interim Consolidated Financial Statements as of September 30, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#333333 face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#333333 face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>31</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 42.55pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>See description of the main transactions conducted with related parties in Note 38 to the Consolidated Financial Statements as of September 30, 2015 and 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 42.55pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the balances with related parties as of September 30, 2015:</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>in financial assets current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>other payables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings current</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=7 width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Inversiones y Representaciones S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corporate services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,889</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>9,136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(558)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of Puertas del Luj&#225;n</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(216)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,286</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Brasilagro Companhia Brasileira de Propriedades Agr&#237;colas (&#8220;BrasilAgro&#8221;)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,426</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,098)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.55pt">

   <TD vAlign=top width="24%"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>48,926</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.55pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sociedad An&#243;nima Carnes Pampeanas S.A. (formerly EAASA)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>114</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD vAlign=top width="24%">

   <P></P>

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,446</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Helmir S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>855</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Omb&#250; Agropecuaria S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,261</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>311</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agropecuaria Acres del Sud S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,919</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>331</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Yatay Agropecuaria S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,261</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Yuch&#225;n Agropecuaria S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,261</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>32</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_139"></A>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 1in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>in financial assets current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>other payables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>non-current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings current</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Futuros y Opciones.Com S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15,285</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>129</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Regional Table Gs Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Supplies purchase transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,398</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Supplies sales transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>89</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,256</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>116,359</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,916)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro Managers S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>297</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,960</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>802</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(924)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agrofy S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Contributions to be paid in</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,059</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(958)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=4 width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Propiedades Comerciales S.A. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,960</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible Notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(12,499)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(840)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corporate services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>38,562</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,121)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Nuevas Fronteras S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Provision of services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Emprendimiento Recoleta S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible Notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(21,714)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(455)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Panamerican Mall S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible Notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(61,549)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,289)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>FyO Trading S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,758</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(223)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fibesa S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>24</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(20)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>64,900</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,368)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(95,762)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,584)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Tarshop S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 8.5pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 8.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>33</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>in financial assets current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>other payables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>non-current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings current</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Joint Ventures of the subsidiaries</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cyrsa S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Joint Ventures of the subsidiaries</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other Related parties</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consultores Asset Management S.A. (&#8220;CAMSA&#8221;)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees provision</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,322)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>635</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(53)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fundaci&#243;n IRSA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Estudio Zang, Bergel &amp; Vi&#241;es</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(304)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inversiones Financieras del Sur S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>62,096</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>359</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Austral Gold</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>La Rural S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(39)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other Related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>63,419</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,718)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Director&#8217;s fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,888)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>39</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,888)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.25pt">

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   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 11pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,256</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>247,778</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(16,852)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(95,762)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,584)</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>34</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_141"></A>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the balances with related parties as of June 30, 2015:</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>in financial assets current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>other payables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>non-current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings current</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries</FONT></B></P>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 10pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Inversiones y Representaciones S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corporate services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,428</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,160)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,247</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of Puertas del Luj&#225;n</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(216)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: 0.05pt; MARGIN: 0in 0pt 0pt 2.35pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>8,087</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,207</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Brasilagro</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>53,738</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,844)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sociedad An&#243;nima Carnes Pampeanas S.A. (formerly EAASA)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>59</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>31,520</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,914</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Helmir S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>6,728</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Omb&#250; Agropecuaria S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,047</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agropecuaria Acres del Sud S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,919</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>326</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="20%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Yatay Agropecuaria S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,047</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>in financial assets current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>other payables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>non-current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings current</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Yuch&#225;n Agropecuaria S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,047</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Futuros y Opciones.Com S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Brokerage</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>20,184</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>125</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Regional Table Gs Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(42)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of inputs operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,073</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>MAT operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(706)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>183</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,247</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>157,030</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,977)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro Managers S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>297</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(810)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>595</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>892</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(810)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Nuevas Fronteras S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(14)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=4 width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Propiedades Comerciales S.A.</FONT></P>

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,540</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Share-based payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>16,575</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(264)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corporate services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>35,106</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Emprendimiento Recoleta S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible Notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(21,048)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(437)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Panamerican Mall S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-convertible Notes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(90,212)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,871)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fibesa S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="19%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>57,265</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(278)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(111,260)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,308)</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>36</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -53.45pt; MARGIN: 0in 0in 0pt 53.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>30.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related party transactions </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(Continued)</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.7pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description of transaction</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Investments</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>in financial assets current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>other payables</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>current</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 9.7pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8.5pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings current</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Tarshop S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco Hipotecario</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(20)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(20)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Joint Ventures of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Cyrsa S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Joint Ventures of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other Related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Consultores Asset Management S.A. (CAMSA)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fees provision</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,743)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,077</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fundaci&#243;n IRSA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Estudio Zang, Bergel &amp; Vi&#241;es</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(280)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inversiones Financieras del Sur S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>58,345</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Dividends receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>359</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Austral Gold</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>328</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>La Rural S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(39)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other Related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>61,112</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(7,062)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top rowSpan=2 width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Reimbursement of expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Director's fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,080)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>40</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,080)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" width="18%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: 10pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0pt 0pt 9.5pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,247</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>276,341</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(14,231)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 2.25pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(111,260)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,308)</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>37</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0.5in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0.5in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in; MARGIN: 0in 2.55pt 0pt 0.5in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>30.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Related party transactions </FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 12.45pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the transactions with related parties for the three-month period ended as of September 30, 2015:</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>of use</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration and management fees</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Compensation of Directors and Senior Management</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries</FONT></B></P></TD>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Inversiones y Representaciones S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(235)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,112</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>960</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>130</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,376</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,298)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,837</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>63</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Helmir S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>238</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(235)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>772</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>12,213</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,298)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,112</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,261</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>849</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>849</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Emprendimiento Recoleta S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(898)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Panamerican Mall S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,538)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Propiedades Comerciales S.A. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(373)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,316</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,139)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Granos Olavarr&#237;a S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,282</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(373)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,282</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,316</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,575)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter144"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>38</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader145"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>30.</FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Related party transactions </FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights </FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>of use</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration and management fees</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Purchase of goods and/or services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corporate services </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Compensation of Directors and Senior Management</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Banco Hipotecario S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(855)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(855)</FONT></B></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(310)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Inversiones Financieras del Sur S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,585</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Hamonet S.A.</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(46)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Isaac Elsztain e Hijos S.C.A.</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(88)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Other Related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(134)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(310)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,585</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="28%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,316)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Senior Management</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,400)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,716)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(742)</FONT></B></P></TD>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>772</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,344</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2,298)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>25,428</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(310)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(3,584)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(6,716)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>39</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>30.</FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Related party transactions </FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The following is a summary of the transactions with related parties for the three-month period ended as of September 30, 2014:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 0.5in; MARGIN: 0in 0pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration and management fees</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corporate services </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Compensation of Directors and Senior Management</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries</FONT></B></P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,609</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(71)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(72)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Helmir S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>458</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agropecuaria Acres del Sud S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Omb&#250; Agropecuaria S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Yuch&#225;n Agropecuaria S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>128</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Yatay Agropecuaria S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(616)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>313</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>32,204</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>7,609</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,466</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Agro-Uranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,107</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>2,107</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subsidiaries of the subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Emprendimiento Recoleta S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(320)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Panamerican Mall S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(569)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>IRSA Propiedades Comerciales S.A. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>1,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Subsidiaries of the subsidiaries</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>21</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,842</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>369</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 92%" color=black face="times new roman"></FONT>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>40</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 92%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 92%" face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 92%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 92%" face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>30.</FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Related party transactions </FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 92%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 92%" face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Related party</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Leases and/or rights of use</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Administration and management fees</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Sale of goods and/or services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Corporate services </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Legal services</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Financial operations</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Compensation of Directors and Senior Management</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other related parties</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(41)</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Isaac Elsztain e Hijos S.C.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(79)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total other Related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(120)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(163)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,246</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors and Senior Management</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" width="37%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Directors </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(4,014)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Senior Management</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1,640)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.25pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Directors and Senior Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,654)</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(715)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>313</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>34,311</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>21,451</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(163)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>18,081</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 2.8pt; PADDING-RIGHT: 2.8pt; HEIGHT: 3.25pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(5,654)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 92%; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 92%" face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>41</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>31.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>CNV General Resolution N&#176; 622/13</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>As required by Section 1&#176;, Chapter III, Title IV of CNV General Resolution N&#176; 622, below there is a detail of the notes to the Unaudited Condensed Interim Separate Financial Statements that disclosure the information required by the Resolution in Exhibits. </FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit A - Property, plant and equipment</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 7 - Investment properties </FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 8 - Property, plant and equipment</FONT></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.55pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit B - Intangible assets</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 9 - Intangible assets</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit C - Equity investments</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 32 - Investments in subsidiaries, associates and joint ventures</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit D - Other investments</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 12 - Financial instruments by category</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit E &#8211; Provisions</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 13 - Trade and other receivables</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 19 - Provisions</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit F - Cost of sales and services</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 33 - Cost of sales and services provided</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit G - Foreign currency assets and liabilities </FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 34 - Foreign currency assets and liabilities</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exhibit H - Exhibit of expenses</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Note 25 - Expenses by nature</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>42</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: 0pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>32.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Investments in subsidiaries, associates and joint ventures</FONT></B></P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -56.75pt; MARGIN: 0in 0in 0pt 35.45pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>

<DIV align=left>

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<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Issuer and type </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>of securities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Class</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Amount</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Value recorded as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Value recorded as of 06.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Market value as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Issuer&#8217;s information </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Interest in common stock</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Main activity</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Place of business / country of incorporation</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Last financial statement issued</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Common stock (nominal value)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Income (loss) for the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Shareholders&#8217; equity </FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Subsidiaries</FONT></B></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>BrasilAgro</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>23,150,050</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>730,003</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>829,945</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Rs. 11.2100</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agricultural</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>875,381</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>115,289</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,818,222</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39.76%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>82,734</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>82,734</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,273</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>7,752</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Intergroup transactions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,389)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,389)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>817,621</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>919,042</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Doneldon S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>262,664,792</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>386,133 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>386,533</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Not publicly</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agricultural</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>262,665 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(7,651)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>228,470 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%" noWrap>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Intergroup transactions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(157,663)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(157,663)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>228,470</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>228,870</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%" noWrap>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Futuros y Opciones.Com S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>972,614</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>15,937</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>16,565</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Not publicly</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,632 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(1,055)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>26,743 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>59.59%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%" noWrap>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Intergroup transactions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(225)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%" noWrap>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>15,712 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>16,565 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>FyO Trading S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #cceeff; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>4,832</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>220</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>127</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2.20%</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Helmir S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>548,347,685</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>220,026 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>205,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Not publicly</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Investment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>90,624 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>14,723 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>250,494 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2,517)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(2,517)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>217,509 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>202,899 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Sociedad An&#243;nima Carnes Pampeanas S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>64,808,660</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>12,647</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(8,043)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agroindustrial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>66,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(14,902)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>12,940</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>97.74%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.4pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="14%">

   <P style="LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>12,647</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(8,043)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>43</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader150"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 0pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif>32.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Investments in subsidiaries, associates and joint ventures</FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(Continued)</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="16%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Issuer and type </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>of securities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Class</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Amount</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Value recorded as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Value recorded as of 06.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Market value as of 09.30.15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="38%" colSpan=5>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Issuer&#8217;s information </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Interest in common stock</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Main activity</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Place of business / </FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>country of incorporation</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Last financial statement issued</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Common stock (nominal value)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Income (loss) for the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Shareholders&#8217; equity </FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>IRSA Inversiones y </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>369,842,681</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,434,341</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,592,615</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>23.500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>574,874 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>364,229 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,887,672 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>64.33%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Representaciones S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Intergroup transactions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(222,120)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(222,120)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>93,501</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>98,860</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>14,331</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>14,331</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,320,053</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,483,686</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Total Subsidiaries</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,612,015</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,843,021</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Granos Olavarr&#237;a S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>264</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Warehousing and </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>512</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>9,445</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2.20%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>15</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>223</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>223</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Agromanagers S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>981,029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,764 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>1,996</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Investment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,094 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>3,765 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>46.84%</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Goodwill </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>796 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,560 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,792</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Agrofy S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>45,230</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Advertising </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>100</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(500)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>45.23%</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(181)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Agrouranga S.A.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>893,069</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>16,854</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>19,371</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Not publicly traded</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Agricultural</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>8,512 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>(253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>47,180 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>35.72%</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Higher value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>11,179</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>11,179</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>28,033</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>30,550</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Total Associates</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>30,635</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>33,565</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Total investments in subsidiaries, associates and joint ventures as of 09.30.15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,642,650</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="16%" noWrap>

   <P style="LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>Total investments in associates and joint ventures as of 06.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="9%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 9.5pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif>2,876,586</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 9.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>44</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader151"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>33.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Cost of sales and services provided</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Biological assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Inventories</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Others</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Total as of 09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Total as of 09.30.14</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Beginning of the period</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>405,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>337,327</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>743,169</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>562,784</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Initial recognition and changes in the fair value of biological assets and agricultural produce at the point of harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>28,969</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>28,969</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>29,689</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Changes in the net realizable value of agricultural produce after harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(8,330)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(8,330)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -181.85pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(14,822)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Increase due to harvest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>81,085</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>81,085</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; TEXT-INDENT: -67.25pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>209,496</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Purchases and classifications</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>188</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>105,213</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>105,401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>85,752</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Consume</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(195)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(47,481)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(47,676)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(52,478)</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Incorporated by merger</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>65</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Expenses incurred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>2,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>2,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,871</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>End of the period </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(386,616)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(320,743)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(707,359)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>(561,925)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Cost as of 09.30.15</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>48,188</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>147,071</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>2,847</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>198,106</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="35%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>Cost as of 09.30.14</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>54,206</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>204,355</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>1,871</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=arial,sans-serif>260,432</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter151"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>45</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<a name="_bclHeader152"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>34.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Foreign currency assets and liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0.5in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Book amounts of foreign currency assets and liabilities as of September 30, 2015 and June 30, 2015 are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0in" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 4pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Amount of foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Prevailing exchange rate (1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total as of 09.30.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Amount of foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Prevailing exchange rate (2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 4pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total as of 06.30.15</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2,346</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.322</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>21,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>1,615</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>14,520</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Brazilian Reais</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>0.74</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2.700</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Euro</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>10.404</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>47</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>10.005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>46</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Yenes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>38</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>0.078</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>41</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>0.073</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>21,923</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>14,569</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Trade and other receivables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2,466</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.322</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>22,989</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>1,377</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>8.988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>12,373</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Receivables with related parties:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>6,780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>63,878</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>7,239</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>65,784</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Brazilian Reais </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>14,605</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3.350</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>48,926</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>16,041</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3.350</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>53,738</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total trade and other receivables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>135,793</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>131,895</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">&nbsp;</TD>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Investment in financial assets</FONT></B></P></TD>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Investments with related parties:</FONT></B></P></TD>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>1,831</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>17,256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>1,898</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>17,247</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total investment in financial assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>17,256</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>17,247</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1.75pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1.75pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Derivative financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>62</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.322</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total derivative financial instruments</FONT></B></P></TD>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>577</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">&nbsp;</TD>

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   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Trade and other payables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3,492</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>32,898</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3,410</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>30,991</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Euros</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>0.38</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>10.539</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>0.39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>10.140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>4</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Payables with related parties:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>75</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Brazilian Reais</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>1,016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3.050</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3,098</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>849</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>3.350</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2,844</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total trade and other payables</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>36,075</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>33,839</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Derivative financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>601</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>293</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2,663</FONT></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total derivative financial instruments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>601</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2,663</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 4pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>US Dollar</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>232,250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2,188,259</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>210,403</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>9.088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>1,912,138</FONT></P></TD></TR>

<TR style="HEIGHT: 3pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>Total borrowings</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>2,188,259</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US color=black face=arial,sans-serif>1,912,138</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: 0pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exchange rate as of September 30, 2015 according to Banco Naci&#243;n Argentina records.</FONT></P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: 0pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Exchange rate as of June 30, 2015 according to Banco Naci&#243;n Argentina records.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>46</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>35.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>CNV General Ruling N&#176; 629/14 &#8211; Storage of documentation</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 10pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On August 14, 2014, the CNV issued General Ruling N&#176; 629 whereby it introduced amendments to rules related to storage and conservation of corporate books, accounting books and commercial documentation. In this sense, it should be noted that the Company has entrusted the storage of certain non-sensitive and old information to the following providers:</FONT></P>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Documentation storage provider</FONT></B></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Location</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Bank S.A.</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=ES-AR color=black face=arial,sans-serif>Ruta Panamericana Km 375, Gar&#237;n, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=arial,sans-serif>Av. Fleming 2190, Munro, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Carlos Pellegrini 1401, Avellaneda, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Iron Mountain Argentina S.A.</FONT></P></TD>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Av. Amancio Alcorta 2482, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Pedro de Mendoza 2143, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Saraza 6135, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Azara 1245, Autonomous City of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Pol&#237;gono industrial Spegazzini, Autopista Ezeiza Km 45, Ca&#241;uelas, Province of Buenos Aires</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=arial,sans-serif>Ca&#241;ada de Gomez 3825, Autonomous City of Buenos Aires</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>It is further noted that a detailed list of all documentation held in custody by providers, as well as documentation required in section 5 a.3) of section I, Chapter V, Title II of the RULES (2013 as amended) are available at the registered office.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On February 5, 2014 there was a widely known fire in Iron Mountain&#8217;s warehouse, which is a supplier of the Company and where Company&#8217;s documentation was being kept. Based on the internal review carried out by the Company, duly reported to the Argentine Securities Exchange Commission on February 12, 2014, the information kept at the Iron Mountain premises that were on fire do not appear to be sensitive or capable of affecting normal operations.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>36.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Negative working capital</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>At the end of the period, the Company carried a working capital deficit of Ps. 165,620 whose treatment is being considered by the Board of Directors and the respective Management.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>47</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><B><FONT><FONT face=arial,sans-serif><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>Notes to the Unaudited Condensed Interim Separate Financial Statements</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> (Continued)</FONT><B><FONT><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif> </FONT></B></FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(All amounts in thousands of Argentine Pesos, except shares and per share data and as otherwise indicated)</FONT></FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 16pt; TEXT-INDENT: 7.1pt; MARGIN: 0in 0pt 0pt" align=center><FONT face=arial,sans-serif><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>37.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Subsequent events</FONT></B></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.45pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>See subsequent events in Note 42 to the Unaudited Condensed Interim Consolidated Financial Statements.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>48</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 16pt" lang=ES-AR face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face="Times New Roman"></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Information required by Section 68 of the Buenos Aires Stock Exchange Regulations</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>and Section 12, Chapter III, Title IV of Resolution 622/13</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Unaudited Condensed Interim Statement of Financial Position as of September 30, 2015 </FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Stated in thousands of pesos</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 33.95pt 0pt 21.3pt" align=center><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 21.3pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>1.</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Specific and significant legal systems that imply contingent lapsing or rebirth of benefits envisaged by such provisions.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>None.</FONT></P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 21.3pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Significant changes in the Company&#180;s activities or other similar circumstances that occurred during the fiscal years included in the financial statements, which affect their comparison with financial statements filed in previous fiscal years, or that could affect those to be filed in future fiscal years.</FONT></U></B></P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Are detailed in the Business Review.</FONT></P>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 21.3pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 12pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 21.3pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Receivables and liabilities by maturity date.</FONT></U></B></P>

<P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0pt 0pt 21.3pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="19%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Items</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Falling due</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(Point 3.a.)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Without term (Point 3.b.)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Without term (Point 3.b.)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="53%" colSpan=8>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>To be due (Point 3.c.)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>09.30.15</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Up to 3 months</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>From 3 to 6</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>months</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>From 6 to 9</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>months</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>From 9 to 12</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>months</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>From 1 to 2</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>years</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>From 2 to 3</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>years</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>From 3 to 4</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>years</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>From 4 years on</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accounts receivables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>26,181 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>366,495 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>855 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>16 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>393,547 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income tax credit and deferred income tax</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,019 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>578,168 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>26,181 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>372,514 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>855 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>16 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>971,715</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,269 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>147,323 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>305 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>305 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>179 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>151,381 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>382,579 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>271,507 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,646 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>189,387 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>385,874 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>838,478 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,065,881 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>64,557 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,200,909 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>19,818 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>9,422 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>10,167 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,780 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,093 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,873 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>5,049 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,093 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>549,720 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>280,929 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,646 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>199,554 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>386,179 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>838,783 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,066,060 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>64,557 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,395,570 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 16pt" lang=ES-AR face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face="Times New Roman"></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Information required by Section 68 of the Buenos Aires Stock Exchange Regulations</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>and Section 12, Chapter III, Title IV of Resolution 622/13</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Unaudited Condensed Interim Statement of Financial Position as of September 30, 2015</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Stated in thousands of pesos</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 10pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>4.a.</FONT></B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Breakdown of accounts receivable and liabilities by currency and maturity.</FONT></U></B></P>

<P style="MARGIN: 0in 0in 0pt 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Items</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom colSpan=3>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></P></TD></TR>

<TR style="HEIGHT: 24pt">

   <TD style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Local currency</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Local currency</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Local currency</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom rowSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accounts receivables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>257,754 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>135,793 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>393,547 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>257,754</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>135,793 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>393,547 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income tax credit and deferred income tax</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,019 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,019 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>578,168 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>578,168 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>263,773 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>135,793 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>399,566 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>835,922 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>135,793 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>971,715 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>114,517 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>36,075 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>150,592 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>789 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>789 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>115,306 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>36,075 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>151,381 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>828,132 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>17,987 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>846,119 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>196,939 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,157,851 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,354,790 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,025,071 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,175,838 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,200,909 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,780 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,780 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,093 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,093 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,873 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,873 </FONT></P></TD></TR>

<TR style="HEIGHT: 11.9pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>983,836 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>54,062 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,037,898 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>199,821 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,157,851 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,357,672 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,183,657</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,211,913 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.9pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,395,570</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.b.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Breakdown of accounts receivable and liabilities by adjustment clause.</FONT></U></B></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 35.45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>On March 31, 2014 there are no receivable and liabilities subject to adjustment clause.</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>

<a name="_bclFooter156"></a><DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>50</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<a name="_bclHeader157"></a><DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 16pt" lang=ES-AR face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face="Times New Roman"></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Information required by Section 68 of the Buenos Aires Stock Exchange Regulations</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>and Section 12, Chapter III, Title IV of Resolution 622/13</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Unaudited Condensed Interim Statement of Financial Position as of September 30, 2015</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Stated in thousands of pesos</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 10pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.c.</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Breakdown of accounts receivable and liabilities by interest accrual.</FONT></U></B></P>

<P style="LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Items</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="27%" colSpan=4>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="26%" colSpan=4>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: black 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="13%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accruing interest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: black 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accruing interest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: black 2.25pt double; BORDER-RIGHT: black 2.25pt double; PADDING-TOP: 0in" vAlign=bottom rowSpan=3 width="7%" noWrap>

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accruing interest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-accruing interest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" colSpan=2>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accruing interest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Non-accruing interest</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Subtotal</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Fixed</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Floating</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Accounts receivables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other receivables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>855 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>58,569 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>334,123 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>393,547 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>855 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>58,569 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>334,123 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>393,547 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Income tax credit and deferred income tax</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,019 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>6,019 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>578,168 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>578,168 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>855 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>58,569 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>340,142 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>399,566 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>572,149 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>855 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>58,569 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>912,291 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>971,715 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>150,592 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>150,592 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>789 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>789 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>151,381 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>151,381</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>392,864 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>431,463 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>21,792 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>846,119 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,032,888 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>320,927 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>975 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,354,790 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,425,752 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>752,390 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>22,767 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,200,909 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Payroll and social security liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>39,407 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,780 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,780 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,093 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,093 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,873 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,873 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>392,864 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>431,463 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>213,571 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>1,037,898</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,032,888 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>320,927 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,857 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,357,672 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2,425,752 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>752,390 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>217,428</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: white; HEIGHT: 1pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>3,395,570</FONT></B></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt 9pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 10pt 9pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>51</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 16pt" lang=ES-AR face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face="Times New Roman"></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Information required by Section 68 of the Buenos Aires Stock Exchange Regulations</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>and Section 12, Chapter III, Title IV of Resolution 622/13</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Unaudited Condensed Interim Statement of Financial Position as of September 30, 2015</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Stated in thousands of pesos</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>5.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Companies under section 33 of law N&#176; 19,550 and other related parties.</FONT></U></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; TEXT-INDENT: -49.65pt; MARGIN: 0in 7.05pt 0pt 28.35pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 7.05pt 0pt 42.55pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>a.</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interest in companies under section 33 of law N&#176; 19,550. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 70.65pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.45pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Name of the entity</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Place of business / country of incorporation</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Principal activity</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>(*)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 11.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>% of ownership interest held by the Group</FONT></B></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Direct equity interest:</FONT></U></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>BrasilAgro-Companh&#237;a Brasileira de Propiedades Agr&#237;colas (1)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agricultural</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>40.15%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Doneldon S.A.</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Uruguay</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Investment</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>100%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Futuros y Opciones.Com S.A. </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>59.59%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Helmir S.A. </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Uruguay</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Investment</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>IRSA</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Real Estate</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>64 .33% (2)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>FyO Trading S.A.</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Brokerage </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2.20%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Sociedad An&#243;nima Carnes Pampeanas</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agro-industrial</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>97.74%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agromanagers S.A.</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Financing </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>46.84%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agrouranga S.A.</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agricultural</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>35.72%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Granos de Olavarr&#237;a S.A.</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Warehousing and brokerage</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>2.20%</FONT></P></TD></TR>

<TR style="HEIGHT: 2.8pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="34%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Agrofy S.A</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>Advertising </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 2.8pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=arial,sans-serif>45.23%</FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 42.55pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(*)&nbsp; All companies whose principal activity is &#8220;investment&#8221; do not have significant assets and liabilities other than their respective interest holdings in operating entities. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0pt 0pt 42.55pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 42.55pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(1)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>The Group has consolidated the investment in BrasilAgro-Companh&#237;a Brasileira de Propiedades Agr&#237;colas (BrasilAgro) considering that the Company exercises &#8220;de facto control&#8221; over it.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 11pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 42.55pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>(2)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>The effect of treasury shares as of September 30, 2015 was not considered.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 42.55pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -14.2pt; MARGIN: 0in 7.05pt 0pt 42.55pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>b.</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Related parties debit / credit balances under section 33 of law N&#176; 19,550. See Note 30.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -1in; MARGIN: 0in 7.05pt 0pt 1in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt; TEXT-DECORATION: none" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>6.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Loans to directors.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>See Note 30.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>7.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Inventories.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The company conducts physical inventories once a fiscal year in each property, covering all the assets under such account. There is no relevant immobilization of inventory.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>8.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Current values.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 28.35pt; MARGIN: 0in 7.05pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>See Note 2 to the Consolidated Financial Statements as of June 30, 2015 and 2014.</FONT></P>

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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>52</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="FONT-SIZE: 16pt" lang=ES-AR face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 16pt" lang=ES-AR color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=ES-AR color=black face="Times New Roman"></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Information required by Section 68 of the Buenos Aires Stock Exchange Regulations</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>and Section 12, Chapter III, Title IV of Resolution 622/13</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Unaudited Condensed Interim Statement of Financial Position as of September 30, 2015</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Stated in thousands of pesos</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>9.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Appraisal revaluation of property, plant and equipment.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt; TEXT-DECORATION: none" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>None.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>10.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Obsolete unused property, plant and equipment.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 7.1pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>None.</FONT></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>11.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Equity interest in other companies in excess of that permitted by section 31 of law N&#176; 19,550.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 7.1pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>None.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 7.1pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 7.1pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>12.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Recovery values.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: 28.35pt; MARGIN: 0in 7.05pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>See Note 2 to the Consolidated Financial Statements as of June 30, 2015 and 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 14.15pt 0pt 0in"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -7.1pt; MARGIN: 0in 0in 0pt 7.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>13.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Insurances.</FONT></U></B></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0pt 7.1pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The types of insurance used by the company were the following:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><FONT size=2 face=Arial></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.05pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.05pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Insured property</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.05pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Risk covered</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.05pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Amount insured</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.05pt; BORDER-TOP: windowtext 2.25pt double; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Book value</FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 11pt; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Ps.</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 1.7pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Buildings, machinery, silos, installation and furniture and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="27%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Theft, fire and technical insurance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 14.15pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>343,264</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 14.15pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>478,170</FONT></P></TD></TR>

<TR style="HEIGHT: 9.3pt">

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 14.15pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Vehicles</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="27%">

   <P style="LINE-HEIGHT: 11pt; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Third parties, theft, fire and civil liability</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 14.15pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>17,546</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.3pt; BORDER-RIGHT: windowtext 2.25pt double; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 11pt; MARGIN: 0in 14.15pt 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5,884</FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>14.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Allowances and provisions that, taken individually or as a whole, exceed 2% of the shareholder&#8217;s equity.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 49.65pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>None.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -35.45pt; MARGIN: 0in 0pt 0pt 49.65pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>15.</FONT></B><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Contingent situations at the date of the financial statements which probabilities are not remote and the effects on the Company&#8217;s financial position have not been recognized.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0pt 0pt 49.65pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Not applicable.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; MARGIN: 0in 0pt 0pt 28.35pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -28.35pt; MARGIN: 0in 7.05pt 0pt 28.35pt"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>16.</FONT></B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Status of the proceedings leading to the capitalization of irrevocable contributions towards future subscriptions.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 14pt; TEXT-INDENT: -49.65pt; MARGIN: 0in 0pt 0pt 49.65pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 14pt; TEXT-INDENT: -21.3pt; MARGIN: 0in 0pt 0pt 49.65pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Not applicable. </FONT>


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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 10pt; MARGIN: 0in 0in 0pt" align=center><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif>53</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 8pt" lang=X-NONE face=Arial,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=georgia>Cresud Sociedad An&#243;nima,</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=ES-AR style="FONT-SIZE: 16pt; LAYOUT-GRID-MODE: line" color=black face=georgia>Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face="Times New Roman"></FONT></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Information required by Section 68 of the Buenos Aires Stock Exchange Regulations</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>and Section 12, Chapter III, Title IV of Resolution 622/13</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Unaudited Condensed Interim Statement of Financial Position as of September 30, 2015</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Stated in thousands of pesos</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 7.05pt 0pt 28.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -28.35pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Free translation from the original prepared in Spanish for publication in Argentina</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 49.65pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>17.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>Unpaid accumulated dividends on preferred shares.</FONT></U></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 49.65pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" color=black face=arial,sans-serif>None.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>18.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Restrictions on distributions of profits.</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>According to the Argentine laws, 5% of the profit of the year is separated to constitute legal reserves until they reach legal capped amounts (20% of total capital). These legal reserves are not available for dividend distribution.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT><FONT></FONT></P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>&nbsp;&nbsp; </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>REVIEW REPORT ON THE UNAUDITED CONDENSED INTERIM SEPARATE FINANCIAL</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>STATEMENTS</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>To the Shareholders, President and Directors of</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=georgia>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>Legal address: </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Moreno 877</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia> &#8211; 23&#176; floor</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>Autonomous City Buenos Aires</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>Tax Code No. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>30-50930070-0</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>Introduction</FONT></B></P>

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<P style="MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 97%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>We have reviewed the unaudited condensed interim separate </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=georgia>&nbsp;financial &nbsp;statements </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>of Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria (hereinafter &#8220;the Company&#8221;)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia> which included the statement of financial position as of September 30, 2015, the statement of income and comprehensive income for the three-month period ended September 30, 2015, the statement of changes in shareholders&#8217; equity and the statement of cash flows for the three -month period ended September 30, 2015 and selected explanatory notes. </FONT></P>

<P style="MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 97%"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 97%"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>The balances and other information corresponding to the fiscal year ended June 30, 2015 and the interim periods within that fiscal period are an integral part of these financial statements and, therefore, they should be considered in relation to these financial statements. </FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 97%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Management responsibility</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 97%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 97%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=georgia>The Board of Directors of the Company is responsible for the preparation and presentation of these unaudited condensed interim separate financial statements in accordance with professional accounting standards of Technical Resolution No. 26 of the Argentine Federation of Professional Councils in Economic Sciences (FACPCE) added by the National Securities Commission (CNV) to its regulations. Those standards differ from the International Financial Reporting Standards (IFRS) and, especially, from the International Accounting Standard No 34 "Interim Financial Reporting" (IAS 34) approved by the International Accounting Standard Board (IASB) and used for the preparation of the unaudited condensed interim consolidated financial statements of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=georgia> with its subsidiaries as to the aspects mentioned in note 2.2 to the unaudited condensed interim separate financial statements attached. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>REVIEW REPORT ON THE UNAUDITED CONDENSED INTERIM SEPARATE FINANCIAL</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>STATEMENTS (Continued)</FONT></B></FONT></FONT></B><FONT face=georgia></FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=georgia>Scope of our review</FONT></B></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" color=black face=georgia>Our review was limited to the application of the procedures established in the International Standard on Review Engagements ISRE 2410 "Review of interim financial information performed by the independent auditor of the entity", which was adopted as a review standard in Argentina through Technical Resolution No. 33 of the FACPCE as approved by the International Auditing and Assurance Standards Board (IAASB). A review of interim financial information consists of making inquiries of persons responsible for the preparation of the information included in the unaudited condensed interim separate financial statements, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the separate statement of financial position, the separate statement of income and comprehensive income and the separate statement of cash flow of the Company.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=georgia>Conclusion</FONT></B></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=georgia>Nothing came to our attention as a result of our review that caused us to believe that these unaudited condensed interim separate financial statements mentioned in the first paragraph of this report have not been prepared in all material respects in accordance with the regulations of Technical Resolution No. 26 of the Argentine Federation of Professional Councils in Economic Sciences for separate financial statements of a parent company.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face=georgia>Report on compliance with current regulations</FONT></B></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>In accordance with current regulations, we report about </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia> that:</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt 42.55pt; TEXT-INDENT: -24.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>a)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LETTER-SPACING: -0.15pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>the unaudited condensed interim separate financial statements of Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia> are recorded &nbsp;in the "Inventory and Balance Sheet Book", and comply, as </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>regards</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia> those matters that are within our competence, with the provisions set forth in the Commercial Companies Law and in the corresponding resolutions of the National Securities Commission;</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt 42.55pt; TEXT-INDENT: -24.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>b)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LETTER-SPACING: -0.15pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>the unaudited condensed interim </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>separate </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>financial statements of&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia> arise from accounting records carried in all formal aspects in conformity with the applicable legal provisions;</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt 42.55pt; TEXT-INDENT: -24.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>c)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>we </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.15pt" face=georgia>have</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> read the additional information to the notes to the unaudited condensed interim separate financial statements required by section 68 of the listing regulations of the Buenos Aires Stock Exchange and by section 12 of Chapter III Title IV of the&nbsp; text of the National Securities Commission, on which, as regards these matters that are within our competence, we have no observations to make;</FONT></P><FONT style="LINE-HEIGHT: 115%" face=georgia></FONT>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Free translation from the original prepared in Spanish for publication in Argentina</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT><FONT face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>REVIEW REPORT ON THE UNAUDITED CONDENSED INTERIM SEPARATE FINANCIAL</FONT></B></FONT></FONT></B></P>

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<P style="MARGIN: 0cm 0cm 0pt 42.55pt; TEXT-INDENT: -24.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>d)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>at September 30, 2015, the debt of Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria owed in favor of the Argentina Integrated Pension System which arises from accounting records and submissions amounted to Ps. 11,601,845 which was no callable at that date.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Autonomous City of Buenos Aires, November 11, 2015</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-GB style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" color=black face=georgia>PRICE WATERHOUSE &amp; Co. S.R.L.</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-GB style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" color=black face=georgia></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-GB style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" color=black face=georgia></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><U><FONT lang=EN-GB style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (</FONT></U><U><FONT lang=EN-GB style="FONT-SIZE: 8pt" color=black face=georgia>Partner</FONT></U><FONT lang=EN-GB style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" color=black face=georgia>)</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-GB style="FONT-SIZE: 8pt" color=black face=georgia>C.P.C.E.C.A.B.A. T&#186; 1 F&#186; 17</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-GB style="FONT-SIZE: 8pt" color=black face=georgia>Dr. </FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Carlos Mart&#237;n Barbafina</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT lang=EN-GB style="FONT-SIZE: 8pt" color=black face=georgia>Public Accountant (U.C.A.)</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>C.P.C.E.C.A.B.A. T&#186; 175 F&#186; 65</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt" vAlign=top width="50%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" color=black face=georgia></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 10pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT><FONT><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y A.</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30, 2015</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Buenos Aires, November 11, 2015</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> - Cresud S.A.C.I.F. y A. (NASDAQ: CRESY &#8211; BCBA: CRES), one of the leading agricultural companies in South America, announces today its results for the first three months of fiscal year 2016 ended September 30, 2015.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif>Highlights</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>For fiscal year 2016 we expect a moderate development of an &#8220;El Ni&#241;o&#8221; season, with above-average rainfall rates. We have reduced the area to be planted in the region as a result of the sales made during fiscal year 2015, mainly Cremaq in Brazil and Fon Fon in Bolivia. In Argentina, given the current macroeconomic conditions and the industry&#8217;s profitability equation, we have slightly reduced the area leased to third parties.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>As concerns land development and sale of farms, we are analyzing the size of the area to be developed during this season, whilst we expect to be able to consummate sales of farms that have reached optimum appreciation. Following our sale of 4 establishments in the region in 2015 with very good results, we made no sales of farmlands during the first quarter of this fiscal year.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Profit from operations from our subsidiary IRSA keeps reflecting the soundness of its business, mainly in its shopping center and office building segments. IRSA&#8217;s EBITDA grew 14.0% in the first quarter of 2016, reaching ARS 778.6 million.</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif>Consolidated Results</FONT></B></P>

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   <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Revenues</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1,624.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1,523.5 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6.6%</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Costs</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1,194.6) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1,243.2) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(3.9%)</FONT></P></TD></TR>

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   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Initial recognition and changes in the net realizable value of biological assets and agricultural products at the point of harvest</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>196.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>282.2 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(30.3%)</FONT></P></TD></TR>

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   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Changes in the net realizable value of agricultural products after harvest</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(8.9) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(22.0) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(59.4%)</FONT></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>617.5 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>540.5 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>14.2%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gain from disposal of investment properties</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>383.6 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>316.8 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.1%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gain from disposal of farmlands</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>General and administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(194.5) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(139.4) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>39.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Selling expenses</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(146.5) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(122.5) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>19.8%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Other profit from operations, net</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>10.7 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.0 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Profit from operations</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>670.8 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>596.3 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12.5%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Share of (loss) / profit of associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(496.7) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(102.7) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>383.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Profit from operations before financing and taxation</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>174.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>493.6 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(64.7%)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Financial results, net</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(446.9) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(340.8) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>31.1%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(Loss)/ Profit before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(272.8) </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>152.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(89.0) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(131.1) </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(32.1%)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Net (Loss) / Income</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(361.8) </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Attributable to:</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Cresud&#8217;s Shareholders </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(292.2) </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(122.0) </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>139.5%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.5pt">

   <TD style="HEIGHT: 9.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 9.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(69.6) </FONT></B></P></TD>

   <TD style="HEIGHT: 9.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>143.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 9.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>During this quarter our revenues were 6.6% higher than in the same period of the previous fiscal year. This was mainly due to a 20.9% increase in revenues from the urban segment, offset by a decrease of 12.9% in the agricultural segment.</FONT></P>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>1</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Gross profit rose 14.2%
during the first three months of fiscal year 2016, mainly due to a 22.4%
increase in gross profit from the urban segment, offset to a lower extent by a
reduction in gross profit from the agricultural segment.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Moreover, profit from
operations grew 12.5%, mainly explained by the sales of office floors in Maip&#250;
1300 and Intercontinental Plaza buildings by our subsidiary IRSA.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Despite the increase in
profit from operations, we recorded a net loss of ARS&nbsp;361.8 million,
compared to net income for ARS&nbsp;21.7 million in the same period of fiscal
year 2015, mainly due to a decrease in the value of the financial asset held by
our subsidiary IRSA, through the Dolphin fund, in its investment in IDB
Development Corporation, which has changed its valuation method effective as of
the quarter under review (for further information on the change in the method,
see note 3 to IRSA Inversiones y Representaciones S.A.&#8217;s Financial
Statements).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Description of
Operations by Segment</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3M 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3M 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Variation</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Agri</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Urban</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Agri</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Urban</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Agri</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Urban</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Revenues</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>679.9 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>721.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.400.9 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>780.2 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>596.3 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.376.5 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(12.9%)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>20.9%</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.8%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Costs</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(778.2) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(180.8) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(959.0) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(927.5) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(155.0) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1.082.4) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(16.1%)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>16.6%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(11.4%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Initial Recognition and Changes in the net
      realizable value of biological assets and agricultural products at the
      point of harvest</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>193.4 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>193.4 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>274.7 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>274.7 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(29.6%)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(29.6%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Changes in the net realizable value of agricultural
      products after harvest</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(8.9) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(8.9) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(22.0) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(22.0) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(59.4%)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(59.4%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gross profit</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>86.1 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>540.3 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>626.3 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>105.4 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>441.3 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>546.7 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(18.3%)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22.4%</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>14.6%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gain from disposal of investment
      properties</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>383.6 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>383.6 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>316.8 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>316.8 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.1%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.1%</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gain from disposal of farmlands</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.0 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.0 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(100.0%)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(100.0%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>General and administrative expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(64.0) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(132.4) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(196.3) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(60.8) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(80.3) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(141.1) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.1%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>64.9%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>39.1%</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Selling expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(92.3) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(55.4) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(147.7) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(87.5) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(38.1) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(125.5) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.5%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>45.7%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>17.7%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Other operating
      results, net</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>23.4 </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(12.9) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>10.4 </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.2) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.9 </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.7 </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1370.4%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Profit / (loss)
      from operations </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(46.8) </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>723.1 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>676.4 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(24.2) </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>642.7 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>618.5 </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>93.5%</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12.5%</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>9.4%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Share of (loss) /
      profit of associates and joint ventures</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(0.6) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(493.1) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(493.7) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1.2) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(117.2) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(118.4) </FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(52.2%)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>320.6%</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>317.0%</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Segment Profit /
      (Loss)</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(47.3)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>230.1</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>182.7</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(25.3)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>525.4</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>500.1</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>86.8%</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(56.2%)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(63.5%)</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif>Our
Portfolio</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Our portfolio is
composed of 289,746 hectares in operation and 513,886 hectares of land reserves
distributed among 4 countries in the region: Argentina, with a mixed model
combining land development and agricultural production; Bolivia, with a
productive model in Santa Cruz de la Sierra; and through our subsidiary
BrasilAgro, Brazil and Paraguay, where the strategy is exclusively focused on
the development of lands.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif></FONT></I>&nbsp;</P>
<a name="_bclFooter165"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>2</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_166></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader166"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif>Breakdown
of Hectares (*)</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>(Own and under
Concession)</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif></FONT></I>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: #75923c; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #76923c; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" colSpan=2>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=Arial,sans-serif>Productive Lands</FONT></B></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #76923c; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=white face=Arial,sans-serif>Land Reserves</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: #c2d69a; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Agricultural</FONT></I></B></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Beef Cattle / Milk</FONT></I></B></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Under Development</FONT></I></B></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Reserved</FONT></I></B></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Total</FONT></I></B></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Argentina</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>71,653 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>159,481(**) </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>3,042 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>324,438 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>558,613 </FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Brazil</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>35,349 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>5,953 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>4,415 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>78,639 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>124,356 </FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Bolivia</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>8,133 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>4,200 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>12,333 </FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Paraguay</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>7,051 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>2,126 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>4,700 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>94,453 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>108,330 </FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: #eeece1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #eeece1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>122,186 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #eeece1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>167,560 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #eeece1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>12,157 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #eeece1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>501,729 </FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #eeece1; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=Arial,sans-serif>803,632 </FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt; PAGE-BREAK-INSIDE: avoid">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="88%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>* Includes Brazil at 100%, Cresca at 50%, Agrouranga
      at 35.723% and 132,000 hectares under concession.</FONT></P>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>**Includes 85,000 hectares intended for sheep
      breeding.</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="12%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 15pt; PAGE-BREAK-INSIDE: avoid">
    <TD style="HEIGHT: 15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="88%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif></FONT></I>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif>Segment
Income</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif>Agricultural Segment</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif>:</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt 0.75in; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face="times new roman">I)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif>Development, Transformation and Sale of
Farmlands</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>We periodically sell
properties that have reached a considerable appraisal to reinvest in new farms
with higher appreciation potential. We analyze the possibility of selling based
on a number of factors, including the expected future yield of the farmland for
continued agricultural and livestock exploitation, the availability of other
investment opportunities and cyclical factors that affects the global values of
farmlands. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>After the closing of
fiscal year 2015, when we had sold 4 farms for ARS&nbsp;814.3 million, we made
no sales of farmlands during the first quarter of fiscal year 2016.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM </FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Revenues</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Costs</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.4) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.7) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(10.3%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gross loss</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.4) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.7) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(10.3%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gain from disposal of investment
      properties</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gain from disposal of farmlands</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(100.0%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Profit / (loss) from operations</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.8) </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Segment Profit / (Loss)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.8) </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Area under Development (hectares)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Developed in 2014/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Projected for 2015/2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Argentina</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1,703 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Brazil</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>7,475 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,414</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Paraguay <SUP>(1)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,367 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>11,545 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,414</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-DECORATION: none" color=windowtext face=Arial,sans-serif>(1) Includes the farms of Cresca S.A. at 100%.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter166"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_167></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader167"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>During the past season
we developed more than 11,000 hectares in the region. We expect to develop 4,414
additional hectares in Brazil during this season, while we are analyzing the
size of the area to be developed in Argentina and Paraguay.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.75in; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="times new roman">II)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;
</FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif>Agricultural Production</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif>II.a)
Crops and Sugarcane</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 0pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Crops</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="60%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM </FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Revenues
      </FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>270.5 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>330.4 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(18.1%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Costs</FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(308.0) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(437.9) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(29.7%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Initial
      Recognition and Changes in the net realizable value of biological assets
      and agricultural products at the point of harvest</FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>97.7 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>161.1 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(39.4%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Changes in the
      net realizable value of agricultural products after
      harvest</FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(8.9) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(22.0) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(59.4%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gross
      profit</FONT></B></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>51.2 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>31.5 </FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>62.3%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>General and
      administrative expenses </FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(36.7) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(38.9) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(5.6%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Selling
      expenses</FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(62.8) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(50.6) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>24.1%</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Other operating
      results, net</FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.7 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.6) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Profit / (loss) from
    operations</FONT></B></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(26.7) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(55.3) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>51.8%</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Share of loss of
      associates and joint ventures</FONT></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(0.1) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1.0) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(90.7%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Segment
      </FONT></B></FONT><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Loss</FONT></B></FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(26.8) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(56.4) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>52.5%</FONT></P></TD></TR>
  <TR>
    <TD width="60%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD></TR></TABLE></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 0pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Sugarcane</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Revenues
      </FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>101.6 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>100.2 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.5%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Costs</FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(143.2) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(151.2) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(5.3%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Initial
      Recognition and Changes in the net realizable value of biological assets
      and agricultural products at the point of harvest</FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>51.5 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>67.2 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(23.4%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Changes in the
      net realizable value of agricultural products after
      harvest</FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gross profit /
      (loss)</FONT></B></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>9.9 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>16.2 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(38.8%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>General and
      administrative expenses </FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(6.6) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(5.3) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>23.0%</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Selling
      expenses</FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.7) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(4.9) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>43.7%</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Other operating
      results, net</FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(0.1) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Profit / (loss) from
    operations</FONT></B></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.5 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6.0 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(91.1%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Share of (loss) /
      profit of associates and joint ventures</FONT></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 14.2pt 0pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=black><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Segment</FONT></B></FONT><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif> profit / (loss)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>
      </FONT></B></FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.5 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6.0 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(91.1%)</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 0pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Operations</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Production Volume (1)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY16</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY15</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY14</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY13</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY12</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Corn</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>165.0</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>211.2</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>72.7</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>83.7</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>106.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.25pt">
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Soybean</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.8</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.0</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.75pt">
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Wheat</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.7</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sorghum</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.3</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.1</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.5pt">
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Sunflower</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.5pt">
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.5</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Total Crops (thousands of tons)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>168.6</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>215.2</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>77.8</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>91.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>138.2</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Sugarcane (thousands of tons)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>556.5</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>415.8</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>437.4</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>450.3</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>556.0</FONT></B></P></TD></TR></TABLE></DIV>
<a name="_bclFooter167"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1)Includes
BrasilAgro, CRESCA at 50%. Excludes Agrouranga.</FONT></P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>4</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_168></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader168"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #76923c; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>Volume of</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY16</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY15</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY14</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY13</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY12</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>Sales </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=white face=Arial,sans-serif>(1)</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 8.25pt">
    <TD style="HEIGHT: 8.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Corn</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>62.6</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>23.6</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>86.2</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>150.9</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>150.9</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>138.3</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>138.3</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>92.1</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>10.2</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>102.3</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>87.3</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 8.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>87.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.75pt">
    <TD style="HEIGHT: 9.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Soybean</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>41.3</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8.6</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>49.9</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>36.7</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>14.2</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>50.9</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>49.9</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.0</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>52.8</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22.2</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.5</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>27.7</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>41.5</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.1</FONT></P></TD>
    <TD style="HEIGHT: 9.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>43.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Wheat</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.1</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>28.9</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>34.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.3</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.3</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.5pt">
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sorghum</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.4</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.4</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.5</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.5</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.5pt">
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sunflower</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.6</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.6</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6.9</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.1</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.1</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total Crops (thousands of tons)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>110.7</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>61.1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>171.8</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>189.9</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>14.2</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>204.1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>202.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>204.9</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>128.9</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15.7</FONT></B></P></TD>
    <TD style="HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>144.6</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>151.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>153.5</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 24pt">
    <TD style="HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sugarcane (thousands of tons)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>554.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>554.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>415.8</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>415.8</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>455.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>455.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>355.6</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>355.6</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>415.8</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 24pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>415.8</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>D.M.:
Domestic market</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>F.M.:
Foreign market</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1) Includes
BrasilAgro, CRESCA at 50%. Excludes Agrouranga.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The Crops segment
increased by ARS&nbsp;29.6 million during the first three months of fiscal year
2016 as compared to the same period of the previous fiscal year, mainly due
to:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>an
increase in income from sales, driven by lower sale costs, which offset the fall
in revenues;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>an
increase in the net realizable value of agricultural products after harvest
mainly originated in a greater drop in corn throughout the previous
period;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>an
increase in gains from soybean hedging transactions; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>a drop in
the Initial recognition and changes in the net realizable value of biological
assets and agricultural products at the point of harvest, derived from lower
results than expected upon seeding, mainly caused by lower corn
prices.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The Sugarcane segment
decreased by ARS&nbsp;5.5 million in the first three months of fiscal year 2016
as compared to the same period of the previous fiscal year, mainly explained
by:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>lower
production income in Brazil due to a smaller area, lower expected yield and
higher costs;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>a
reduction in production income in Bolivia due to higher costs, offset by higher
yields; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 64.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>higher
income from sales net of selling expenses, represented mainly by Brazil, as a
result of the 36.2% increase in volume sold and higher margin in Reais
(R$).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=center>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Area in Operation
      - Crops (hectares)<SUP>1</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>As of 9/30/15</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>As of 9/30/14</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Own
      farms</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>108.906 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>129.361</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(15.8%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Leased farms
      </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>39.804 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>50.157</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(20.6%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Farms under
      concession </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>24.602 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>16.786</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>46.6%</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Own farms leased
      to third parties</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.573 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8.752</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(70.6%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Total Area
      Assigned to Crop Production</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>175.885 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>207.428</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(15.2%)</FONT></B></P></TD></TR></TABLE>
<DIV id=ftn1><FONT lang=PT-BR></FONT>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 5pt" face=Arial,sans-serif><FONT color=#0000ff><SUP>1
</SUP></FONT>Includes surface area under double cropping, all the farms in
Argentina, Bolivia, Paraguay and Brazil, and AgroUranga (Subsidiary &#8211;
35.72%).</FONT></P><FONT lang=PT-BR></FONT></DIV>
<a name="_bclFooter168"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>5</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_169></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader169"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<DIV align=center></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The area assigned to
the crop segment decreased by 15.2% as compared to the same period of the
previous fiscal year, reaching 175,885 hectares mainly due to the smaller area
resulting from the sale of farms made in 2015 and smaller area leased to third
parties.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif>II.b)
Cattle and Dairy Production</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>During the first quarter of fiscal year 2016 we recorded
mixed results in our cattle and dairy business in Argentina, reflecting the
combined effect of higher beef production volumes, a slight decrease in milk
production due to a smaller number of milking cows, and an increase in livestock
prices, accompanied by a slight decrease in milk prices.</FONT></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15.6pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Production Volume</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=white face=Arial,sans-serif>
      (1)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY16</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY15</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY14</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY13</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQFY12</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.6pt">
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cattle herd (thousands of tons)</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.5</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.2</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.6</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.6pt">
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Milking cows (thousands of tons)</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.6pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Beef cattle (thousands of tons)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.6</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.3</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.8</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.7</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.3</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 14.1pt">
    <TD style="HEIGHT: 14.1pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Milk (millions of liters)</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.5</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.6</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.8</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.1</FONT></B></P></TD>
    <TD style="HEIGHT: 14.1pt; BACKGROUND: #d6e3bc; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.1</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: normal" align=left><FONT lang=ES-AR style="FONT-SIZE: 8pt" face=Arial,sans-serif>(1)Includes BrasilAgro, CRESCA&nbsp; at 50%. </FONT><FONT lang=ES style="FONT-SIZE: 8pt" face=Arial,sans-serif>Excludes Agro-Uranga
S.A.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=ES style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15.75pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #76923c; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>Volume of </FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY16</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY15</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY14</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY13</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.75pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=3 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>IQFY12</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #76923c; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face=Arial,sans-serif>Sales </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=white face=Arial,sans-serif>(1)</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Total</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>D.M.</FONT></B></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>F.M.</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cattle herd</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.1</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.1</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.3</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.3</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Milking cows</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Beef cattle (thousands of tons)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.3</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.3</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.2</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.2</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.2</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.1</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 23.25pt">
    <TD style="HEIGHT: 23.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Milk (millions of liters)</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.4</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.6</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.6</FONT></B></P></TD>
    <TD style="HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></B></P></TD>
    <TD style="HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 23.25pt; BACKGROUND: #c2d69b; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 4.8pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>D.M.:
      Domestic market</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>F.M:
      Foreign market</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1)
      Includes BrasilAgro, CRESCA at 50%. Excludes
  Agrouranga</FONT></P></TD></TR></TABLE><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif></FONT></B></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif>Cattle</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Revenues</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>58.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>62.3 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(6.9%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Costs</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(78.7) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(82.7) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(4.9%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Initial Recognition and Changes in the value of
      biological assets and agricultural products</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>28.2 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>29.2 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(3.2%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Changes in the net realizable value of agricultural
      products</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.0 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gross profit </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>7.6 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8.8 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(13.5%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Profit from operations </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(7.9) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(6.4) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22.2%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Segment Profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(7.9) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(6.4) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22.2%</FONT></B></P></TD></TR></TABLE></DIV>
<a name="_bclFooter169"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>6</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_170></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader170"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Gross profit from the
Cattle segment for the first three months of fiscal year 2016 decreased by
ARS&nbsp;1.2 million compared to the same period of 2015, explained mainly
by:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Higher income from
sales of ARS&nbsp;2.4 million mainly due to the significant 21.7% increase in
livestock prices;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>An increase in
production income of ARS&nbsp;1.2 million, largely reflecting an increase of
34.5% in kilograms produced; and </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Lower holding results
of ARS&nbsp;4.8 million derived from lower average livestock prices than in the
same quarter of the previous fiscal year.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Area in Operation
      &#8211; Beef Cattle (hectares)</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>As of 9/30/15</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>As of 9/30/14</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Own
      farms</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>73,007 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>76,977</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(5.2%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Leased
      farms</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12,635 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13,501</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(6.4%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="63%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Farms under concession</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>820 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>869</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(5.6%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Own farms leased
      to third parties</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5,953 </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5,078</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(17.2%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Total Area
      Assigned to Beef Cattle Production</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>92,415</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif> </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>96,425</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(4.2%)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.4pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>We decreased by 4.2%
the area of farms assigned to cattle production, mainly as a result of a
reduction in the operation of own farms, leased farms and farms under
concession.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 2.85pt">
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Stock of Cattle Herds</FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>As of 9/30/15</FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>As of 9/30/14</FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 2.85pt">
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Breeding stock</FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>55,278 </FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>53,646 </FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.0%</FONT></P></TD></TR>
  <TR style="HEIGHT: 2.85pt">
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Winter grazing stock</FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8,140 </FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6,157 </FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>32.2%</FONT></P></TD></TR>
  <TR style="HEIGHT: 2.85pt">
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Milk farm stock</FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5,438 </FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6,378 </FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(14.7%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 2.85pt">
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Total Stock (heads)</FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>68,856 </FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>66,181 </FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0%</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=#4f6228><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif>Dairy</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Revenues</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>17.5 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>17.5 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Costs</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(33.6) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(32.8) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.4%</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Changes in the net realizable value of biological
      assets and agricultural products</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>16.0</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>17.2</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(7.0%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Gross profit </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(0.1)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.8</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Profit / (loss) from operations</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.8) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(0.4) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>605.9%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="57%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Segment Profit / (Loss)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2.8) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(0.4) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>605.9%</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<DIV align=center>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Milk
      Production</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Daily average
      milking cows (heads)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1,996 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,208 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(9.6%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Milk Production /
      Milking Cow / Day (liters)</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>24.72 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22.19 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>11.4%</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Revenues from this
segment remained constant. There was a drop in milk prices that was offset by an
increase in the sale of milking cows. On the other hand, costs for the </FONT><a name="page_171"></a><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>sale of milk decreased
proportionally to milk revenues, whereas costs related to livestock were
significantly higher, resulting in a lower sales margin.</FONT></P>
<a name="_bclFooter170"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>7</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_171></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader171"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>In turn, milk
production income decreased due to a drop in prices and lower volume sold as a
result of a smaller amount of milking cows, thus explaining the decrease of
ARS&nbsp;1.9 million in gross profit from the Dairy segment for the first three
months of fiscal year 2016 compared to the same period of 2015.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=center>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 2.85pt">
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Area in Operation
      &#8211; Dairy (hectares)</FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>As of 9/30/15</FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>As of 9/30/14</FONT></B></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 2.85pt">
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Own
      farms</FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,780</FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,864</FONT></P></TD>
    <TD style="HEIGHT: 2.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-2.9%</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.4pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>We perform our milking
business in El Tigre farm. There was a 2.9% change in the area assigned to
milking cows.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 0.5in; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt; TEXT-INDENT: 35.4pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif>III:
Other Segments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Under &#8220;Other&#8221; we report
the results from Leases and Agricultural Services, Agro-industrial Activities
and our investment in FyO.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif>Leases
and Agricultural Services</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="49%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Revenues</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>11.6 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>14.1 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(17.8%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Costs</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(4.8) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(5.2) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(8.2%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Gross profit </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6.8 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8.9 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(23.4%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Profit from operations</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.6 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8.1 </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(30.6%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Segment Profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5.6 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8.1 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(30.6%)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The Leases and
Agricultural Services segment decreased by ARS 2.5 million, mainly due to lower
income from leases as a result of the failure to renew the agreements of the San
Pedro and La Suiza farms during this season and the decrease in irrigation
income caused by higher fixed costs (mainly water, electricity and equipment
depreciation).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif>Agro-industrial Activities</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="51%" noWrap>
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap>
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Revenues</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>189.9 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>215.9 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(12.0%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Costs</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(180.9) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(188.8) </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(4.2%)</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Gross profit / (loss)</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>9.1 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>27.1 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(66.6%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Loss from operations</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(12.1) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Segment Loss</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(12.1) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The Agro-industrial
segment decreased by ARS&nbsp;14 million mainly due to a fall in sales to the
foreign market, offset by lower selling expenses due to lower operating
volumes.</FONT></P>
<a name="_bclFooter171"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>8</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_172></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader172"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif>FyO</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In ARS MM</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2016</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IQ 2015</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #9bbb59; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Revenues</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>30.7 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>39.8 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(22.7%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 4pt">
    <TD style="HEIGHT: 4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Costs</FONT></P></TD>
    <TD style="HEIGHT: 4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(26.7) </FONT></P></TD>
    <TD style="HEIGHT: 4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(26.1) </FONT></P></TD>
    <TD style="HEIGHT: 4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.5%</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Changes in the net realizable value of biological
      assets and agricultural products </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Gross profit</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.0 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13.7 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(70.8%)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Management fees</FONT></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>- </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Loss from operations</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(0.7) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>9.9 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 1pt">
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Segment Loss</FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1.2) </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>9.8 </FONT></B></P></TD>
    <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.4pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>There has been a
reduction of ARS 10.9 million in this segment, mainly due to lower sales of
inputs. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 46.35pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter172"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>9</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_173></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader173"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#244061 face=Arial,sans-serif>Urban
Segment</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#244061 face=Arial,sans-serif>:</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#244061 face=Arial,sans-serif>Urban
Properties and Investments through our subsidiary IRSA (Inversiones y
Representaciones Sociedad An&#243;nima)</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>We develop our Urban
Properties and Investments segment through our subsidiary IRSA. As of September
30, 2015, our equity interest in IRSA was 64.30% over stock capital (64.73%
considering repurchased treasury stock).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>IRSA is one of
Argentina&#8217;s leading real estate companies in terms of total assets. IRSA is
engaged, directly or indirectly through subsidiaries and joint ventures, in a
range of diversified real estate related activities in Argentina and abroad,
including:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The acquisition,
development and operation of shopping centers and offices, through its interest
of 95.90% in IRSA Propiedades Comerciales S.A. (continuing company of Alto
Palermo S.A.), one of Argentina&#8217;s leading operators of commercial real estate
with a controlling interest in 15 shopping centers and 6 office buildings
totaling 414,000 sqm of Gross Leaseable Area (334,055 in shopping centers and
79,945 in offices).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The acquisition and
development of residential properties and the acquisition of undeveloped land
reserves for future development or sale.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The acquisition and
operation of luxury hotels.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Selective investments
outside Argentina.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 46.35pt; LINE-HEIGHT: normal; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face="century gothic,sans-serif">&#9658;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#4f6228 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Financial investments,
including IRSA&#8217;s current 29.99% equity interest in Banco Hipotecario, which is
one of the leading financial institutions in Argentina. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The following
information has been extracted from the financial statements of our controlled
company IRSA as of September 30, 2015:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=center>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 5.65pt">
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #376091; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="53%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #376091; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQ 16</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #376091; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>IQ 15</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #376091; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>YoY Var</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.65pt">
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Revenues from sales, leases and
    services</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>713.5</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>588.6</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.2%</FONT></P></TD></TR>
  <TR style="HEIGHT: 5.65pt">
    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Profit from operations</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>724.0</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>640.1</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13.1%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 5.65pt">
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Depreciation and amortization</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>54.6</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>42.8</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>27.6%</FONT></P></TD></TR>
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    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>EBITDA *</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>778.6</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>682.9</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>14.0%</FONT></B></P></TD></TR>
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    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Net loss</FONT></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(316.0)</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>135.8</FONT></B></P></TD>
    <TD style="HEIGHT: 5.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>-</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>*It coincides with the
Income Statement contained in the Financial Statements (does not include
interest in joint ventures)</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Our stake in IRSA has a
high impact on our results, therefore we recommend the reading of detailed
information on IRSA provided in its website (</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=windowtext face=arial,sans-serif>www.irsa.com.ar</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>), in the Argentine Securities
Commission website (</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=windowtext face=arial,sans-serif>www.cnv.gob.ar</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>) and in the Securities and
Exchange Commission website (</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=windowtext face=arial,sans-serif>www.sec.gov</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter173"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>10</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_174></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader174"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4f6228 face=Arial,sans-serif>Financial
Indebtedness and Other</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>As of September 30,
2015, Cresud had a total net indebtedness equivalent to USD&nbsp;811.1 million,
consolidating IRSA. The following table contains a breakdown of Cresud&#8217;s
indebtedness:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><FONT lang=EN-US style="FONT-SIZE: 14pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.25pt">
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Currency</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Amount <SUP>(1)</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Interest Rate</FONT></B></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face=Arial,sans-serif>Maturity</FONT></B></P></TD></TR>
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    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Bank overdrafts</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>34.3</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Variable</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>&lt; 30 days</FONT></P></TD></TR>
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    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Short term bank loan</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8.8</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Variable</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>8-Jan-16</FONT></P></TD></TR>
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    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Banco Ciudad loan</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Libor 180 days + 300 bps; floor: 6%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>18-Jan-22</FONT></P></TD></TR>
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    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Banco de la Pampa loan</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>variable [10.5% ; 14.5%]</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>3-Aug-17</FONT></P></TD></TR>
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    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2018 Series XIV Notes</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>32.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.50%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22-May-18</FONT></P></TD></TR>
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    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2015 Series XV Notes</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Badlar + 399 bps</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>18-Nov-15</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2018 Series XVI Notes</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>109.1</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.50%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>19-Nov-18</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2016 Series XVII Notes</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>18.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Badlar +250 bps</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>14-Mar-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2019 Series XVIII Notes</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>33.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.00%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12-Sep-19</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2016 Series XIX Notes</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>19.9</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>27.5% / Badlar + 350 bps</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>13-Sep-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2017 Series XX Notes (3) </FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>18.2</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2.50%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13-Mar-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2017 Series XXI Notes</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>20.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>27.5% / Badlar + 375 bps</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>12-Aug-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud 2019 Series XXII Notes</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>22.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.00%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13-Mar-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Communication 5319 Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.01%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>5-Dec-15</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>FyO Communication 5449 Mortgage Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.1</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15.25%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>28-Dec-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Bolivia loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>BOB</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.8</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Variable</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>30-Jun-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Cresud&#8217;s Total Debt</FONT></B></P></TD>
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    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>340.2</FONT></B></P></TD>
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    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>&nbsp;</TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IRSA 2017 Series I Notes</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>150.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>8.50%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>2-Feb-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IRSA 2020 Series II Notes (4)</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>150.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>11.50%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>20-Jul-20</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Series VI Notes</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.1</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Badlar + 450 bps</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>27-Feb-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Bank overdrafts</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>72.2</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Variable</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&lt; 180 days</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Short term bank loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>10.6</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>23.00%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>30-Dec-15</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Loan agreements</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4.2</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Variable</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>25-Jun-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>HASA 5380 Mortgage Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.25%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>29-Dec-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Llao Llao 5380 Mortgage Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.25%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>29-Dec-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Nuevas Fronteras 5600 Mortgage Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Variable</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>29-Dec-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IRSA&#8217;s Total Debt</FONT></B></P></TD>
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    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>389.5</FONT></B></P></TD>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>APSA 2017 Series I Notes (2)</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>120.0</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>7.88%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>11-May-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Short term debt</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21.5</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>Variable</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>&lt; 30 days</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Short term bank loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>23.00%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>30-Sep-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Syndicated loan &#8211; Arcos</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.01%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>16-Nov-15</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Communication 5319 Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.3</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.01%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>12-Dec-15</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IRSA CP Series I Notes ARS</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>43.2</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>26.5% / Badlar + 400 bps</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>20-Mar-17</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Syndicated Loan - Neuquen</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3.9</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.25%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>14-Jun-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>CAPEX 5380 Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.25%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>23-Dec-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>NPSF 5449 Mortgage Loan</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>15.25%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>29-Dec-16</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>CAPEX 5600 Loan</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ARS</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.1</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>26.50%</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>2-Jan-18</FONT></P></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Debt for asset purchase</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>USD</FONT></P></TD>
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      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>246.4</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>8.50%</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>20-Jul-20</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>IRCP&#8217;s Total Debt</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>454.2</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Brasilagro&#8217;s Total Debt</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>13.9</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Consolidated Cash</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>109.7</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Repurchased debt</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>30.6</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 11.25pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Consolidated Net Debt</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>811.1</FONT></B></P></TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.25pt; BACKGROUND: #d8d8d8; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.4pt">
    <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="99%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1) Principal amount in USD&nbsp;(million) at an
      exchange rate of 9.4222 ARS&nbsp;= 6.96 BOB =3.977 BRL =1 USD, without
      considering accrued interest or elimination of balances with
      subsidiaries.</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.4pt">
    <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="99%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2) As
      of September 30, 2015, the Company had repurchased a principal amount of
      USD&nbsp;5.7 million.</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.4pt">
    <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="99%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(3) As
      of September 30, 2015, the Company had repurchased a principal amount of
      USD&nbsp;10.1 million.</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.4pt">
    <TD style="HEIGHT: 11.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="99%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(4) As
      of September 30, 2015, the Company had repurchased a principal amount of
      USD&nbsp;14.8 million.</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="1%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="38%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD></TR></TABLE></DIV>
<a name="_bclFooter174"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>11</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_175></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader175"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 14pt" face="times new roman"></FONT></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4f6228 face=Arial,sans-serif>Comparative Summary Consolidated Balance Sheet
Data</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 7.45pt">
    <TD style="HEIGHT: 7.45pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In thousands of ARS</FONT></B></P></TD>
    <TD style="HEIGHT: 7.45pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-15</FONT></B></P></TD>
    <TD style="HEIGHT: 7.45pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-14</FONT></B></P></TD>
    <TD style="HEIGHT: 7.45pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-13</FONT></B></P></TD>
    <TD style="HEIGHT: 7.45pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-12</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 4.55pt">
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Current assets</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,669,797</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,124,710</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,804,629</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,059,918</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.55pt">
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Non-current assets</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>11,067,271</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>11,021,685</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>9,863,796</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8,525,901</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.55pt">
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total assets</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15,737,068</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15,146,395</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12,668,425</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>10,585,819</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.55pt">
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Current liabilities</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,096,398</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3,806,685</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,912,519</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,080,535</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.55pt">
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Non-current liabilities</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>7,831,660</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>6,921,354</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,978,421</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3,766,509</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.55pt">
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total liabilities</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>11,928,058</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>10,728,039</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>7,890,940</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5,847,044</FONT></P></TD></TR>
  <TR style="HEIGHT: 18.35pt">
    <TD style="HEIGHT: 18.35pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Third party interest (or minority
      interest)</FONT></P></TD>
    <TD style="HEIGHT: 18.35pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,258,916</FONT></P></TD>
    <TD style="HEIGHT: 18.35pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,593,976</FONT></P></TD>
    <TD style="HEIGHT: 18.35pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,310,410</FONT></P></TD>
    <TD style="HEIGHT: 18.35pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>2,170,006</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.55pt">
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Shareholders&#8217; equity</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>3,809,010</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,418,356</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,777,485</FONT></P></TD>
    <TD style="HEIGHT: 4.55pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>4,738,775</FONT></P></TD></TR>
  <TR style="HEIGHT: 36.4pt">
    <TD style="HEIGHT: 36.4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total liabilities plus third party interests (or
      minority interest) plus Shareholders&#8217; Equity</FONT></P></TD>
    <TD style="HEIGHT: 36.4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15,737,068</FONT></P></TD>
    <TD style="HEIGHT: 36.4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15,146,395</FONT></P></TD>
    <TD style="HEIGHT: 36.4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>12,668,425</FONT></P></TD>
    <TD style="HEIGHT: 36.4pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>10,585,819</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4f6228 face=Arial,sans-serif>Comparative Summary Consolidated Income Statement
Data</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 4.75pt">
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In thousands of ARS</FONT></B></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2016</FONT></B></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2015</FONT></B></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2014</FONT></B></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2013</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 4.75pt">
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Gross profit</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>617,462</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>531,816</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>358,494</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>321,148</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.75pt">
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Profit from Operations</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>670,782</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>596,293</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>161,649</FONT></P></TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>176,490</FONT></P></TD></TR>
  <TR style="HEIGHT: 26.6pt">
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(Loss) / income from interests in associates and
      joint ventures</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(496,669)</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(102,728)</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>38,366</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>15,746</FONT></P></TD></TR>
  <TR style="HEIGHT: 26.6pt">
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Income before financing and taxation</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>174,113</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>493,565</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>200,015</FONT></P></TD>
    <TD style="HEIGHT: 26.6pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>192,236</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Net financial results</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(446,866)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(340,818)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(334,412)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(168,532)</FONT></P></TD></TR>
  <TR style="HEIGHT: 22.85pt">
    <TD style="HEIGHT: 22.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 10pt 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Profit / (Loss) before income tax</FONT></P></TD>
    <TD style="HEIGHT: 22.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(272,753)</FONT></P></TD>
    <TD style="HEIGHT: 22.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>152,747</FONT></P></TD>
    <TD style="HEIGHT: 22.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(134,397)</FONT></P></TD>
    <TD style="HEIGHT: 22.85pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>23,704</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Income Tax</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(89,007)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(131,082)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>45,382</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(15,703)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Net (Loss) / Income</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(361,760)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21,665</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(89,015)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8,001</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Controlling company&#8217;s shareholders</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(292,151)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(122,005)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(97,849)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(16,518)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.75pt">
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Non-controlling interest</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(69,609)</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>143,670</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8,834</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>24,519</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.75pt">
    <TD style="HEIGHT: 4.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">&nbsp;</TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 4.75pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD></TR>
  <TR style="HEIGHT: 11.5pt">
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Net (Loss) / Income</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(361,760)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>21,665</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(89,015)</FONT></P></TD>
    <TD style="HEIGHT: 11.5pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>8,001</FONT></P></TD></TR>
  <TR style="HEIGHT: 19.05pt">
    <TD style="HEIGHT: 19.05pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Other comprehensive (loss) /income for the period
      (1)</FONT></P></TD>
    <TD style="HEIGHT: 19.05pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(320,285)</FONT></P></TD>
    <TD style="HEIGHT: 19.05pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(53,958)</FONT></P></TD>
    <TD style="HEIGHT: 19.05pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>143,301</FONT></P></TD>
    <TD style="HEIGHT: 19.05pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>51,034</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total comprehensive (loss) /income for the
      period</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(682,045)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(32,293)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>54,286</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>59,035</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Controlling company&#8217;s shareholders</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(405,297)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(130,380)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(26,259)</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>5,979</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.75pt">
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Non-controlling interest</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(276,748)</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>98,087</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>80,545</FONT></P></TD>
    <TD style="HEIGHT: 7.75pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>53,056</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.1pt">
    <TD style="HEIGHT: 10.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><I><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=Arial,sans-serif>(1) Corresponds to translation
      differences</FONT></I></P></TD>
    <TD style="HEIGHT: 10.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 10.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 10.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD>
    <TD style="HEIGHT: 10.1pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter175"></a><DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>12</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV><A name=page_176></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader176"></a><DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4f6228 face=Arial,sans-serif>Comparative Summary Consolidated Cash Flow Statement
Data</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal">&nbsp;</P></DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 3.1pt">
    <TD style="HEIGHT: 3.1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In thousands of ARS</FONT></B></P></TD>
    <TD style="HEIGHT: 3.1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2016</FONT></B></P></TD>
    <TD style="HEIGHT: 3.1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2015</FONT></B></P></TD>
    <TD style="HEIGHT: 3.1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2014</FONT></B></P></TD>
    <TD style="HEIGHT: 3.1pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1QFY2013</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 17.65pt">
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Net cash generated by / (used in) operating
      activities</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>412,260</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>326,790</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>371,811</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>390,897</FONT></P></TD></TR>
  <TR style="HEIGHT: 17.65pt">
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Net cash generated by / (used in) investing
      activities</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(32,317)</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1,151,925</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(522,036)</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(200,164)</FONT></P></TD></TR>
  <TR style="HEIGHT: 20.1pt">
    <TD style="HEIGHT: 20.1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Net cash generated by / (used in) financing
      activities</FONT></P></TD>
    <TD style="HEIGHT: 20.1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>123,095</FONT></P></TD>
    <TD style="HEIGHT: 20.1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1,018,374)</FONT></P></TD>
    <TD style="HEIGHT: 20.1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(303,099)</FONT></P></TD>
    <TD style="HEIGHT: 20.1pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(247,992)</FONT></P></TD></TR>
  <TR style="HEIGHT: 17.65pt">
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Total cash generated by or used during the year /
      period</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>435,995</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>460,341</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(453,324)</FONT></P></TD>
    <TD style="HEIGHT: 17.65pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(57,259)</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#4f6228 face=Arial,sans-serif>Ratios</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 7.7pt">
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>In thousands of ARS</FONT></B></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-15</FONT></B></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-14</FONT></B></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-13</FONT></B></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #9bbb59; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Sept-12</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.7pt">
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Liquidity </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=Arial,sans-serif>(1)</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.14</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>1.08</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.96</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.99</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.7pt">
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Solvency </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=Arial,sans-serif>(2)</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.32</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.41</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.61</FONT></P></TD>
    <TD style="HEIGHT: 7.7pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.81</FONT></P></TD></TR>
  <TR style="HEIGHT: 18.95pt">
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Restricted assets </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=Arial,sans-serif>(3)</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.70</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.73</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.78</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.81</FONT></P></TD></TR>
  <TR style="HEIGHT: 18.95pt">
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>Profitability (only annual) </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=Arial,sans-serif>(4)</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(9.5%)</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.5%</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1.9%)</FONT></P></TD>
    <TD style="HEIGHT: 18.95pt; BACKGROUND: #d8d8d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>0.2%</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="95%" colSpan=5>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(1)Current Assets / Current
Liabilities</FONT></P></TD>
    <TD>&nbsp;</TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="95%" colSpan=5>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(2) Total Shareholders&#8217; Equity / Total
      Liabilities</FONT></P></TD>
    <TD>&nbsp;</TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="95%" colSpan=5>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(3) Non-current Assets / Total Assets</FONT></P></TD>
    <TD>&nbsp;</TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="95%" colSpan=5 noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>(4) Net income / (Loss) (excluding other
      Comprehensive Profit / (Loss)) / Total Average Shareholders&#8217;
      Equity</FONT></P></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="43%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD></TR></TABLE></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: normal"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT>
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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>13</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt; LINE-HEIGHT: 115%" align=left><FONT style="LINE-HEIGHT: 115%" color=#4f6228><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif></FONT></B></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=#4f6228 face=Arial,sans-serif>Material
Events Occurred during the Period and Subsequent Events</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Issue of Series XXI and
XXII Notes</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Series
XXI</FONT></U></B></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Issue Date:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> August 12, 2015</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Principal Amount:</FONT></B><FONT style="LINE-HEIGHT: 150%" face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"> </FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>ARS 192,233,000</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Issue Price:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> 100% at face value</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Mixed Interest Rate: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Fixed rate during the first 9
months and floating rate during the 9 remaining months, calculated based on the
BADLAR Rate plus 375 basis points.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Fixed Rate:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> 27.5%</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Stated Maturity Date:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> February 13, 2017</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Interest Payment Dates</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>: Every three months</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Principal Payment Date</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>: February 13, 2017</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Series
XXII</FONT></U></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Issue Date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>August</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>12, 2015</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Principal Amount: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>US$22,699,363</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Initial Exchange Rate Applicable: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>ARS 9.2037 per U.S.
Dollar.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Issue Price: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>97.65% of face value</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>IRR: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>4.75%</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Fixed Interest Rate: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>4.00%</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Stated Maturity Date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>August 12, 2019</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Interest Payment Dates: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Every three months</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 150%" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Principal Payment Date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>April 12, 2019 and August 12,
2019</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Shareholders&#226;&#8364;&#8482; Meeting
dated October 30, 2015</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>On October 30, 2015,
the General Ordinary and Extraordinary Shareholders&#226;&#8364;&#8482; Meeting was held, which
resolved, inter alia: </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The increase in the
Program&#226;&#8364;&#8482;s maximum outstanding principal amount of up to US$&nbsp;300,000,000
(Three Hundred Million U.S. Dollars) by an additional amount of up to
US$&nbsp;200,000,000 (Two Hundred Million U.S. Dollars).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>14</FONT></P></DIV>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y
A.</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30,
2015</FONT></B></FONT></FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT size=+0><FONT size=+0><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Moreover, it has been
resolved to adjourn the meeting until November 26, 2015 at 5:00 p.m., outside
the registered, office, at Bol&#195;&#173;var 108, First Floor, City of Buenos Aires in
order to deal with the following matters at such reconvened meeting:</FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 53.85pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>&#195;&#732;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Allocation of income for the
fiscal year ended June 30, 2015 and payment of a cash dividend for up to ARS
88.1 million.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 53.85pt; LINE-HEIGHT: 14pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>&#195;&#732;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Allocation of treasury
shares.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Dividend from our
subsidiary Brasilagro</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>At the Ordinary General
Shareholders&#226;&#8364;&#8482; Meeting held on October 28, 2015, our subsidiary Brasilagro
declared dividends for BRL&nbsp;80.7 million (BRL&nbsp;1.3977 per share) which
shall be made available to the shareholders on November 13, 2015.</FONT></P>
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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>15</FONT></P></DIV>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT><FONT><B><FONT lang=ES-AR style="FONT-SIZE: 16pt" face=Arial,sans-serif>Cresud S.A.C.I.F. y A.</FONT></B></FONT></FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 18pt" align=center><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>Summary as of September 30, 2015</FONT></B></FONT></FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0in 12pt; LINE-HEIGHT: 14pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#4f6228 face=Arial,sans-serif>Prospects for the next fiscal year</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>For fiscal year 2016 we expect a moderate development of an &#8220;El Ni&#241;o&#8221; season, with above-average rainfall rates. In Argentina, given the current macroeconomic conditions and the industry&#8217;s profitability equation, we have adopted a conservative planting strategy in our farms in the northern region of Argentina, but we are ready to react to an improvement in profitability conditions. Moreover, we have slightly decreased the area leased to third parties. In Brazil we expect a good 2016 season mainly due to the depreciation of the Brazilian currency vis-&#224;-vis the dollar observed in the last months. In Bolivia and Paraguay we do not forecast any material changes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>In Argentina, we expect sustained prices for beef cattle and slightly rising, albeit constrained, costs. We will efficiently work towards reaching the highest operating margins possible. In the case of our &#8220;El Tigre&#8221; dairy facility, where we have consolidated all our milk production, over the past months we adopted a strategy consisting in the selective sale of milking cows, completed in September past, and keeping the more productive herd. In connection with our meat packing plant, which we hold through our interest in Carnes Pampeanas, we will continue working towards optimizing margins, in hope that market conditions become more favorable and the segment regains profitability.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>As concerns land transformation and value-adding activities, we will make progress in the development of our farms in Argentina, Paraguay and Brazil at a slower pace than in previous years due to the high development costs and production profitability conditions. We remain watchful of purchase and sale opportunities that may arise and we will continue to dispose of those farms that have reached their highest degree of appreciation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>During the 2016 season, we will keep on rolling out our business model, whilst continuing to analyze opportunities in other countries of the region with the objective to put together a regional portfolio with major development and appreciation potential. We expect to be able to recover the profitability levels recorded in the past years, even in a depressed commodity price scenario.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Agribusiness offers very interesting long-term prospects. We believe that companies such as Cresud, with a track record going back so many years and vast industry knowledge will have outstanding possibilities of taking advantage of the best opportunities arising in the market, much more so considering that our main task is to produce food for a growing and demanding world population.</FONT></P>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt" face=Arial>16</FONT></P>

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<DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="DISPLAY: inline"><FONT face="times new roman"><FONT style="FONT-SIZE: 10pt">Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.</FONT></FONT></FONT></DIV>

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   <TD vAlign=top width="38%" colSpan=2><FONT style="DISPLAY: inline"><FONT style="DISPLAY: inline"><FONT face="times new roman"><B><FONT style="FONT-SIZE: 10pt">Cresud Sociedad An&#243;nima, Comercial, Inmobiliaria, Financiera y Agropecuaria</FONT></B></FONT></FONT></FONT></TD>

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